Morningstar cuts Australia's Pinnacle Investment fair value estimate on slower assumed growth

Pinnacle Investment Management

28/09/2026 21:12

** Morningstar cuts fair value estimate for Pinnacle Investment PNI.AX by 5% to A$12.70
** Pinnacle affiliate Metrics Credit Partners disclosed on Monday its net tangible assets (NTA) will be 5% lower than earlier estimates, following which it voluntarily suspended trading for three ASX-listed funds
** Morningstar cuts fair value estimate on slower assumed growth, countering previously assumed strong net inflows
** Morningstar says this is the first publicized negative NTA revision it is aware of for Metrics and is linked to the manager's 2026 audit
** Investment research firm deems the write-downs as having potential for negative ramifications
** 9 of 9 analysts rate the stock "buy" or higher; their median PT is A$23.40, according to data compiled by LSEG
** Stock down 24.7% YTD as of last close
     
($1 = 1.4241 Australian dollars)

(Reporting by Rudrannsh Mehra in Bengaluru)
((Rudrannsh.Mehra@thomsonreuters.com))