2246 GMT - Challenger keeps its bull at Goldman Sachs despite the Australian investment manager's weaker-than-expected 1Q update. Analyst Julian Braganza tells clients in a note that Challenger's capital position, life sales and fund-management flows all looked weak, although he points out that the company has maintained its annual profit guidance. He continues to like Challenger for its exposure to Australia's superannuation industry and makes only minor changes to earnings forecasts. Goldman retains a buy rating and has a A$7.82 target price on the stock, which is at A$6.51 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 16, 2024 18:46 ET (22:46 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.