Citi sees Aussie Steadfast's outlook firm with levers to soften rate drag

Steadfast

11/12/2025 19:09

** Citi calls insurance broker Steadfast's SDF.AX investor update upbeat, with earnings outlook intact and fresh levers flagged to cushion softer rate cycle

** Brokerage adds that the CEO is "very confident" on hitting FY26 EPS target of 6%-10%, though leaning on faster M&A and cost cuts

** Lifts FY26/27 EPS estimates by 0.2%, sticking with view for ~6% profit growth on two-year compound annual growth rate

** Citi says brokers are "quality businesses" proven through the cycle, with many levers available to mitigate slowing rates

** Stock down 12.2% YTD

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))