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