Bell Potter initiates coverage on Australia's Praemium with 'buy' rating

Praemium

19/05/2025 06:29

** Shares of Praemium PPS.AX down 4.4% at A$0.7025 on the day

** Bell Porter initiates coverage on stock with price target of A$1, a 36.1% premium to stock's last close

** Brokerage rates Praemium with "buy" tag

** Praemium is a financial technology company that operates an online portfolio administration service and investment platform

** Bell Potter says co is strategically positioned to grow its platform market share, chiefly driven by rollout of its investor directed portfolio services (IDPS) platform, loyal customer base and leading technology

** These aspects also favour co as a potential takeover candidate to that end - Bell Potter

** Brokerage also says consensus expectations for funds-under-administration growth appear conservative based on co's current market share of 2.5% and there remains an opportunity for co to extend its presence

** Stock down 5.8% YTD, including current session's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))