SDF - Credit Suisse rates the stock as Outperform
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The company hosted an investor briefing focused on its technology strategy. Credit Suisse cannot fault the continuously expanding strategy but does not have the confidence to forecasts bankable earnings from growth opportunities.
At this point premium rates are working in the company's favour and an Outperform rating is maintained. The earnings growth opportunity is in FY19/20, in the broker's opinion.
A recovery in commercial lines premium rates in recent months will assist to offset some of the pressure from expenses. Target is $3.10.
Target price is $3.10.Current Price is $2.81. Difference: $0.29 - (brackets indicate current price is over target). If SDF meets the Credit Suisse target it will return approximately 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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