BUZZ-Morningstar says Steadfast strata broker accustations to minimally impact operations

Reuters
03 Mar
BUZZ-Morningstar says Steadfast strata broker accustations to minimally impact operations

** Morningstar believes accusations of channelling incentives between Australia's Steadfast Group's SDF.AX strata brokers and underwriting divisions will not affect strata operations

** Co back in December conducted an internal review and found no evidence of wrongdoing

** Brokerage maintains its fair value estimate for shares of co at A$6.00, believes that insurance premium increases and new clients wins, its growth drivers, are priced in

** All 10 analysts rate the stock 'Buy'; their median PT is A$6.65 – according to data compiled by LSEG

** Stock down 3.2% YTD at A$5.610 as of last close

(Reporting by Nichiket Sunil in Bengaluru; Editing by Lincoln Feast.)

((Nichiket.Sunil@thomsonreuters.com;))

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