Citi raises EPS estimate for Australia's Perpetual after largely positive Q2

Perpetual

30/01/2025 18:42

** Analysts at Citi raises FY25 EPS estimates for asset
manager Perpetual  PPT.AX  by 3% 
    ** Brokerage raises target price to A$24.20; maintains "buy"
rating
    ** Co sees HY performance fees of A$15.9 million ($9.90
million); Citi says performance fees estimates was a positive
surprise
    ** Co's Q2 Managed Funds Services segment's FUA rise 4.1%
from the previous quarter, above Citi's estimates
    ** However, Citi calls co's 2Q flows "little disappointing" 
    ** Analysts, on average, rate the stock "buy"; their median
PT is A$24.0 — LSEG
    ** Perpetual up more than 9% this year, as of last close


($1 = 1.6054 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com))