BTT - Morgan Stanley rates the stock as Overweight
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Annualised fee increases from the September quarter inflows of $5.1m demonstrate that inflows are coming from higher margin JO Hambro products.
Overall, Morgan Stanley estimates the base fee rate on net inflows for the quarter was around 60 basis points, compared with the current 50 basis points margin, so the company should be on track for margin expansion.
Overweight and $13.50 target retained. Industry view In-Line.
Sector: Diversified Financials.
Target price is $13.50.Current Price is $11.41. Difference: $2.09 - (brackets indicate current price is over target). If BTT meets the Morgan Stanley target it will return approximately 15% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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