Citi optimistic on Australia's Perpetual, lifts forecasts

Perpetual

20/01/2025 19:16

** Citi is optimistic on Perpetual  PPT.AX  on the back of
foreign exchange benefits, while co's upcoming Q2 update in
focus
    ** Brokerage retains "buy" rating and price target of A$22.5
    ** Citi expects weakening Aussie dollar is likely to lead to
a solid lift in closing assets under management (AuM)
    ** The corresponding lift in revenue is, however, likely to
be partially offset by a rise in expenses - Citi
    ** Brokerage upgrades EPS guidance by 4% and 1% for fiscal
2025 and 2026 respectively
    ** 7 of 9 analysts rate the stock "buy" or higher, 2 "hold";
their median PT is A$23.8 – LSEG data
    ** Perpetual up 2.5% so far this year, in line with a 2.3%
rise on the benchmark ASX 200 index  .AXJO 

 (Reporting by Nikita Maria Jino in Bengaluru; editing by Diane
Craft)
 ((Nikita.Jino@thomsonreuters.com;))