2245 GMT [Dow Jones]--Steadfast's bull at Goldman Sachs sees the Australian insurance broker's investor day as an attempt to ease any shareholders' concerns around succession planning. Analyst Julian Braganza tells clients in a note that the company showcased the strength of its management bench in response to the departure due to personal priorities of Chief Operating Officer Nigel Fitzgerald. Braganza says that Fitzgerald would probably have been the next CEO had he stayed. He adds that Steadfast's broking leader, Tim Mathieson, previously grew Australian insurer QIB both organically and through acquisitions. GS has a buy rating and A$6.50 target price on the stock, which is at A$5.77 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 25, 2025 18:51 ET (22:51 GMT)
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