Jarden cuts PT for Australia's Perpetual on lower FUM balance, outlook
16/04/2025 04:43
** Shares of financial services firm Perpetual PPT.AX fall as much as 6.7% to A$6.8 ** Co on Tuesday posted a 4% decrease in assets under management as of March 31 ** Jarden cuts PT to A$22.25 from A$22.75, downgrades earnings forecast for fiscal 2025 and 2026 by 0.6% and 5.5% respectively ** Says downgrade reflects lower Funds under Management balance and increased outflow assumptions in the near term; retains 'overweight' rating ** Avg rating on stock is a 'buy'; median PT is A$20.92 - LSEG ** Stock trims YTD gains to 17.6% (Reporting by Nichiket Sunil in Bengaluru) ((Nichiket.Sunil@thomsonreuters.com))
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Brief: Perpetual Total AUM At A$219.2 Billion As At 31 March 2026