Citi sees special dividend on the cards from Australia's nib Holdings, hikes PT
BUZZ-Citi sees special dividend on the cards from Australia's nib Holdings, hikes PT ** Citi says while recent trends suggest some moderation across parts of nib Holdings' NHF.AX business, brokerage maintains its forecast range for FY 2026 underlying operating profit to reach the top end of A$257 million to A$267 million ($178.02 million to $184.95 million)
** Adds that with nib's travel sale also effectively complete, the potential for a fully franked special dividend remains
** Brokerage raises target price to A$8 from A$6.95, maintains "buy" tag
** Citi adds that nib trades at a hefty discount to its, albeit higher quality, peer Medibank Private MPL.AX
** While nib now appears more focused on profitable growth than maximising volumes, we continue to expect slowing but above-system growth for core Australian Residents Health Insurance - Citi
** Nib up 3.2% so far this year, as of last close
($1 = 1.4436 Australian dollars)
(Reporting by Nikita Maria Jino in Bengaluru)
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Citi sees special dividend on the cards from Australia's nib Holdings, hikes PT