Virgin Money's ASX-listed shares rise as Macquarie raises PT

Virgin Money UK

12/12/2023 03:38

** Shares of Virgin Money UK  VUK.AX   VMUK.L  rise as much
as 3.4% to A$3.039, their highest since Nov 22 
    ** Analysts at Macquarie raise stock's target price to
A$3.45 from A$3.20 
    ** Brokerage upgrades rating to "outperform"
    ** Raises EPS estimates for FY24 by 7.2%, FY25 by 5.5% and
4% - 8% upgrades thereafter
    ** Broker says management's FY24 guidance of net interest
margin (NIM) 1.90% - 1.95% and stable credit information report
at ~52% seems "attractive" 
    ** Estimates 35-40 basis points of cumulative NIM benefits
in FY24 and FY25
    ** Two of 4 analysts rate the stock "buy" or higher, one
"hold" and one "sell" or lower; their median PT is A$3.33 ––
LSEG data
    ** Stock down 10.4% this year, as of last close

    

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))