0133 GMT - Worries over the durability of Steadfast's domestic growth are overdone, according to the Australian insurance broker and underwriter's new bulls at Morgan Stanley. Analysts Andrei Stadnik and Richard E. Wiles raise their recommendation to overweight from equal-weight, telling clients in a note that the stock offers compelling value. They anticipate a 17% on-year underlying EPS growth in fiscal 2025, ahead of the ASX-listed company's 12%-16% guidance. The stock is cheaper than many insurers and financial companies with more limited growth profiles, they say. MS lifts its target price by 5.1% to A$6.98. Shares are up 4.0% at A$6.105. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 02, 2024 20:33 ET (01:33 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。