Australia's Link Administration extends fall, Citi cuts PT

Link Administration Holdings

04/08/2023 04:14

** Australian share registry firm Link Administration
 LNK.AX  down 0.3% at A$1.45, extending fall for a fourth
session
    ** Analysts at Citi cut price target to A$1.50 from A$1.60
    ** Brokerage says a number of small acquisitions helping LNK
guide strong FY23 revenue and operating EBIT growth
    ** Adds uncertainty still remains, retains "neutral" rating
    ** LNK on Thursday warned of FY23 statutory loss after tax
of about A$417.7 mln ($274.18 mln), significantly higher than
last year's A$67.6 mln loss
    ** LNK expects bigger FY23 stat loss due to provisions owing
to a financial investigation into its Fund Solutions business,
and one-off charges related to its sale
    ** Two of seven analysts rate LNK "buy" or higher, four
"hold" and one "sell"; median PT A$2.03 – Refinitiv data
    ** LNK down 26.3% this year, as of last close, vs a 3.9%
increase in the ASX 200 benchmark index  .AXJO  

($1 = 1.5235 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com; Twitter: https://twitter.com/sameer_manekar))