Citi lifts price target on Australia's Perpetual Ltd

Perpetual

10/07/2025 20:06

** Analysts at Citi raise price target on Australia's Perpetual PPT.AX to A$21.00 from A$18.25 and retain "neutral" rating

** Brokerage says financial services firm's sensitivity to market movements has helped in its favour with the recent rally in the Australian equity market

** Citi also lifts company's FY25 and FY26 EPS estimates by 2% for each financial year

** In late February, PPT ended talks with KKR KKR.N for an A$2.2 billion ($1.45 billion) sale of its wealth management and corporate trust units and said it would pursue a sale of its wealth management business separately

** Citi sees company's share price direction likely to be largely dependent on outcome of company's wealth management unit sale process

** Five of nine analysts rate the stock "buy" or higher, four "hold"; their median PT is A$20.16, according to data compiled by LSEG

** Stock up 5.3% YTD, as of last close

($1 = 1.5193 Australian dollars)

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))