Morningstar begins coverage on Australia's PSC Insurance, sees growth

PSC Insurance

11/07/2023 21:47

** Analysts at Morningstar initiate coverage on Australia's
PSC Insurance Group  PSI.AX  with fair value estimate of
A$4.90/share
    ** Brokerage says acquisitions remain a key to growth
strategy for co as management remains confident in adding new
capabilities
    ** Expects PSI to give a dividend yield of around 3%,
forecasts annual EPS growth of about 10.5% per year to FY27
    ** PSC has a sound balance sheet - Morningstar
    ** Brokerage further forecasts co's U.K. business to post
annual EBITDA growth of 12% over five years to FY27
    ** Four of six analysts rate the stock "buy" and two "hold";
their median PT is A$5.70 – Refinitiv 
    ** Stock has fallen 2.2% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))