Australia's Latitude's execution key amid mixed outlook, Citi cuts earnings view

Latitude group

25/08/2024 23:00

** Analysts at Citi say Australian fintech firm Latitude
Group Holdings'  LFS.AX  ability to execute its margin expansion
plans and manage asset quality will be crucial for its
performance in the near future 
    ** Citi says despite the earnings miss, there are positive
signs in core business metrics like margin expansion, volume
growth, receivables growth, etc
    ** While there are signs of improvement, LFS faces a
potentially prolonged period of slow growth in its Pay segment,
contingent on both internal efforts and broader retail market
conditions - Citi
    ** Citi cuts LFS earnings forecasts by 10% across fiscal
2024 - 2026 
    ** Brokerage maintains LFS PT at A$1.15; maintains 'Neutral'
rating
    ** Stock down 1.3% this year, as of last close

 (Reporting by Roushni Nair in Bengaluru; Editing by Sandra
Maler)
 ((Roushni.Nair@thomsonreuters.com;))