Navigator Global Investments slips from 4-yr high; Macquarie upbeat on forecast

Navigator Global Investments

04/06/2024 04:11

** Shares of Australia's Navigator Global Investments
 NGI.AX  fall as much as 4.3% to A$2.010, retreating from over
4-year highs hit on Monday
    ** Analysts at Macquarie see upside in asset manager as
full-year earnings forecast beats estimates; raise PT to A$2.22
from A$1.55
    ** NGI said on Monday it sees FY24 adjusted EBITDA between
$85 mln and $89 mln, up from Macquarie's forecast of $76.5 mln
    ** "Profit distributions from NGI's partner firms are ahead
of NGI expectations and historical performance, reflecting...
strong investment performance" - Macquarie
    ** Stock up 65.4% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))