Humm's Latest Bull Attracted by Commercial Growth -- Market Talk

Dow Jones

2024-12-05

0133 GMT - Humm Group's commercial lending growth secures the Australian credit provider a new bull. Ord Minnett analyst Phillip Chippindale tells clients in a note that he sees Humm's Flexicommercial business growing strongly over the medium term, supported by the sale of products through a broker network that is becoming more of a focus for the market. Humm is now the leading non-bank asset financier for small- and medium-sized enterprises in Australia and New Zealand, he adds. Ord Minnett initiates coverage with a buy rating and A$0.90 target price on the stock. Shares are up 1.1% at A$0.6725. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

December 04, 2024 20:33 ET (01:33 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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