Australia's Praemium hits two-week high after Q3 results
18/04/2023 05:53
** Praemium Ltd shares PPS.AX rise as much as 2.8% to
A$0.745, its highest since April 3
** Investment management platform provider reports funds
under administration (FUA) of A$43.7 bln ($29.35 bln) as of
end-March vs A$47.7 bln as of end-Dec
** Canaccord Genuity says Q3 Platform FUA was above its
estimates and Praemium on track to achieve FY23 Platform FUA
forecast
** Brokerage keeps 'buy' rating and PT of A$1.25
** All four analysts covering PPS rate it "buy" or higher;
their median PT is A$1.10 – Refinitiv data
** Stock was last flat, keeping YTD losses at 9.4%
($1 = A$1.4890)
(Reporting by Jaskiran Singh in Bengaluru)
((Jaskiran.Singh@thomsonreuters.com;))