BUZZ-Citi raises EPS estimate for Australia's Perpetual after largely positive Q2

Reuters
01-31
BUZZ-Citi raises EPS estimate for Australia's Perpetual after largely positive Q2

** Analysts at Citi raises FY25 EPS estimates for asset manager Perpetual PPT.AX by 3%

** Brokerage raises target price to A$24.20; maintains "buy" rating

** Co sees HY performance fees of A$15.9 million ($9.90 million); Citi says performance fees estimates was a positive surprise

** Co's Q2 Managed Funds Services segment's FUA rise 4.1% from the previous quarter, above Citi's estimates

** However, Citi calls co's 2Q flows "little disappointing"

** Analysts, on average, rate the stock "buy"; their median PT is A$24.0 — LSEG

** Perpetual up more than 9% this year, as of last close

($1 = 1.6054 Australian dollars)

(Reporting by John Biju in Bengaluru)

((John.Biju@thomsonreuters.com))

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