Citi hikes PT on Australia's Link Administration, sees growth for next year

Link Administration Holdings

21/04/2023 05:17

(Adds brokerage comments, analyst rating)
    ** Shares of Link Administration  LNK.AX  rise as much as
4.2% to A$2.23, extending gains to a second session
    ** Co agrees to sell its UK unit Link Fund Solutions (LFS)
and settle the probe by the UK's Financial Conduct Authority
    ** LFS to be sold to Waystone Group for up to $174.1 mln
        ** Citi lifts raises PT to A$2.45 from A$2.20, calls for
'Buy' on the stock; adds that there is a good chance that LNK
will advance over next year
  
    ** If successful, the deal should remove the key uncertainty
surrounding the stock making it investible once more - Citi
        ** Two analysts rate the stock 'buy' or higher, six
'hold;' their median PT is A$2.35 – Refinitiv data
  

 (Reporting by Jaskiran Singh and Harshita Swaminathan)
 ((Harshita.Swaminathan@thomsonreuters.com))