0012 GMT - Perpetual would have a better foundation for the proposed turnaround of its investments division if it keeps hold of its wealth-management and corporate-trust units, Morgan Stanley analyst Andrei Stadnik says. He reckons that the tax ruling on the proposed demerger of wealth management and corporate trust has made their sale to KKR looking less likely. He writes in a note that Perpetual's current group structure will now look more attractive to shareholders. MS has an equal-weight rating and A$20.60 target price on the stock, which is down 0.6% at A$19.945. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 10, 2024 19:12 ET (00:12 GMT)
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