2336 GMT - The share-price rise that followed Perpetual's 1Q update shows how sensitive the stock is to any small change to investors' perception of value, Bell Potter analyst Marcus Barnard says. Retaining his sum-of-parts valuation methodology, Barnard tells clients in a note that he still expects Perpetual's sale of its wealth management and corporate trust businesses to KKR to proceed for the previously agreed A$2.175 billion. That's despite units showing improved funds under management in 1Q. Barnard values Perpetual's asset-management business at 6.5 times Ebitda. Its target price falls 10% to A$24.76 but Bell Potter keeps a buy rating on the stock, which is up 1.1% at A$20.79. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 20, 2024 19:36 ET (23:36 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。