0121 GMT - Humm Group gets a new bull at Shaw & Partners, where analyst Larry Gandler likes the look of the Australian credit provider as it emerges from a period of restructuring. Initiating coverage of the stock with a buy rating, Gandler highlights Humm's streamlined cost profile and tighter post-Covid focus on commercial asset lending and unsecured consumer finance. He tells clients in a note that Humm's international operations could break even in fiscal 2025, and he anticipates double-digit earnings-per-share growth in fiscal 2027. He says that the stock is trading at about 3.3X fiscal 2027 EPS, which he calls undemanding. Shaw & Partners has a A$1.00 target price on the stock, which is up 1.5% at A$0.66. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 01, 2024 20:21 ET (01:21 GMT)
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