2321 GMT - GQG Partners' exposure to Adani Group will likely play out over the medium-to-long term as an investment mistake, Morgans analyst Scott Murdoch reckons. He sees the initial direct impact on funds under management and earnings as negligible, but warns the recent underperformance of GQG's emerging markets fund will be exacerbated by its holdings in the troubled Indian conglomerate. He tells clients in a note there is a risk of short-term reputational damage from the Adani exposure, but sees GQG well placed over the longer term to benefit from improving markets. Morgans cuts its target price by 20% to A$2.47 and lowers its recommendation to hold from add. Shares are up 0.5% at A$2.22. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 24, 2024 18:21 ET (23:21 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。