New Steadfast Bull Sees Value Relative to Global Peers -- Market Talk

Dow Jones

Feb 05, 2025

0356 GMT - Insurance broker and underwriter Steadfast gets upgraded to buy from hold at Goldman Sachs, where analysts think that the Australian company looks cheap compared with global peers. They think that Steadfast will maintain its annual guidance despite moderation in commercial rates for small and medium enterprises. They see limited risk from strata reviews and reckon that Steadfast was tracking well through the first fiscal quarter, albeit performance looked to be acquisition led. Steadfast is trading at less than 18 times one-year forward earnings, which they write in a note is below mid-cycle multiples. GS keeps a A$6.50 target price on the stock. Shares are up 1.7% at A$5.795. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 04, 2025 22:56 ET (03:56 GMT)

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They think that Steadfast will maintain its annual guidance despite moderation in commercial rates for small and medium enterprises. They see limited risk from strata reviews and reckon that Steadfast was tracking well through the first fiscal quarter, albeit performance looked to be acquisition led. Steadfast is trading at less than 18 times one-year forward earnings, which they write in a note is below mid-cycle multiples. GS keeps a A$6.50 target price on the stock. Shares are up 1.7% at A$5.795. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 04, 2025 22:56 ET (03:56 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>New Steadfast Bull Sees Value Relative to Global Peers -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNew Steadfast Bull Sees Value Relative to Global Peers -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-02-05 11:56</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0356 GMT - Insurance broker and underwriter Steadfast gets upgraded to buy from hold at Goldman Sachs, where analysts think that the Australian company looks cheap compared with global peers. They think that Steadfast will maintain its annual guidance despite moderation in commercial rates for small and medium enterprises. They see limited risk from strata reviews and reckon that Steadfast was tracking well through the first fiscal quarter, albeit performance looked to be acquisition led. Steadfast is trading at less than 18 times one-year forward earnings, which they write in a note is below mid-cycle multiples. GS keeps a A$6.50 target price on the stock. Shares are up 1.7% at A$5.795. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  February 04, 2025 22:56 ET (03:56 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2237443382.USD","symbol_name":"Aberdeen Standard SICAV I - Global Dynamic Dividend A MIncA USD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2509440864","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2509440864","pubTimestamp":1738727760,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0356 GMT - Insurance broker and underwriter Steadfast gets upgraded to buy from hold at Goldman Sachs, where analysts think that the Australian company looks cheap compared with global peers. 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They think that Steadfast will maintain its annual guidance despite moderation in commercial rates for small and medium enterprises. They see limited risk from strata reviews and reckon that Steadfast was tracking well through the first fiscal quarter, albeit performance looked to be acquisition led. Steadfast is trading at less than 18 times one-year forward earnings, which they write in a note is below mid-cycle multiples. GS keeps a A$6.50 target price on the stock. Shares are up 1.7% at A$5.795. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  February 04, 2025 22:56 ET (03:56 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}