Morningstar raises earnings estimate for Australia's Judo Capital

Judo Capital Holdings

23/01/2024 19:08

** Analysts at Morningstar raise fair value estimate on
Australia's Judo Capital  JDO.AX , the holding company for Judo
Bank, by 9% to A$1.20/share
    ** Brokerage targets 20% growth in the firm's loan book to
A$10.7 billion ($7.02 billion) by June 2024
    ** Morningstar upgrades FY24 pre-tax profit estimate by 43%
and 6% for FY25
    ** Says management appears to be leaning towards preserving
margin and profit in the short term even if it means slowing
loan growth
    ** Raises fiscal 2024 and 2025 net interest margin estimates
by 10 basis points and 5 basis points to 2.9% and 2.95%,
respectively
    ** Stock fell 24.5% in 2023


($1 = 1.5237 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))