Australia's Link gains as Macquarie resumes coverage with 'neutral'

Link Administration Holdings

29/11/2023 24:17

(Updates with share moves and Macquarie comments)
    ** Shares in Australia's Link Administration  LNK.AX  extend
gains to rise as much as 4% to A$1.3
    ** Analysts at Macquarie resume coverage on the Aussie share
registry firm with a "neutral" rating at A$1.25 PT
    ** Citi raises earnings per share (EPS) estimate on co to 2%
for FY24-26 after LNK upgraded its earnings forecast for FY24 
    ** The Australian share registry firm on Tuesday raised
operating EBIT growth forecast to between 7% and 9% from "at
least 6%" forecast previously 
    ** Citi says outlook upgrade reflects improvements in
trading
    ** Brokerage maintains a target price of A$1.40 and
"neutral" rating 
    ** Stock down 37.2% this year, as of last close

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