Australia's Magellan Financial gains as brokerages remain upbeat on quarterly update

Magellan Financial

09/10/2025 04:27

Updates

** Shares of Magellan Financial Group MFG.AX rise as much as 2.5% to A$10.56, on track for a third consecutive session of gains, if current trend holds

** Macquarie raises price target on the asset manager to A$8.65 from A$8.55

** Magellan on Wednesday posted funds under management (FUM) of A$40.2 billion ($26.48 billion) as of September-end vs A$39.6 billion as of June-end

** Brokerage raises FY26, FY27 adjusted EPS by 1.3% and 1.4%, respectively, reflecting stronger FUMs

** Morgan Stanley says September-end FUM was ahead of brokerage forecast of A$39.3 billion

        ** Brokerage, however, notes challenging retail flows, sees downside to base management fees

** Stock down 4% YTD, including the day's moves

($1 = 1.5181 Australian dollars)

 (Reporting by Roshan Thomas and Nikita Maria Jino in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))