PPT - Morgans rates the stock as Hold
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First half results were sound, Morgans believes, and FY18 and FY19 estimates are lifted by 1-3%. The company is building a track record of consistent delivery, in the broker's opinion.
Perpetual Private and Corporate Trust results were strong. Morgans acknowledges difficult conditions exist for Perpetual Investments' value/quality investment bias.
Hold rating maintained. Target rises to $51.98 from $51.15.
Sector: Diversified Financials.
Target price is $51.98.Current Price is $49.68. Difference: $2.30 - (brackets indicate current price is over target). If PPT meets the Morgans target it will return approximately 4% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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