Citi trims Liberty Financial Group's PT, lowers FY22-23 estimates

Liberty

31/08/2021 01:12

** Citi trims its PT on Liberty Financial Group  LFG.AX  and
lowers FY22-23 earnings estimates by up to 9%
    ** The lender posted a 61% jump in FY underlying NPAT to
A$226 mln ($164.82 mln), which Citi says missed its estimates by
~6%
    ** Lowers PT to A$8.10 from A$8.60; stock jumped 4% on
Monday
    ** Says LFG is set to face competition from peers despite
lower funding costs during H2 set to benefit LFG
    ** Expects double-digit earnings growth until end-FY22 as
LFG posts ~41% growth in FY21 
    ** Four analysts rate the stock "buy" or higher – Refinitiv 
    ** Down 6.9% YTD, as of last close

($1 = 1.3712 Australian dollars)

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))