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AMP - Credit Suisse rates the stock as Outperform
BY BROKER NEWS - 27/04/2018 | VIEW MORE BROKER UPDATES

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AMP - AMP LIMITED


The broker regrets not downgrading its rating on AMP earlier, but no one was to know just what brand damage the Royal Commission would inflict. It is still unknown just what the ongoing earnings risk may be, but the broker believes the downside is likely now priced in, hence Outperform retained.

A special mention goes out to the fact CS analysts are still talking about the CEO having announced he will leave at the end of the year. He has stepped down with immediate effect and already written a pathetic goodbye missive about this is not the AMP you all know. Take note Credit Suisse.

Irrespective, one cannot dispute the fact the absence of a CEO puts in doubt planned asset sales and commitment to the current strategy. The broker has cut earnings forecasts and its target to $4.80 from $5.45, noting uncertainty remains.

Sector: Insurance.

Target price is $4.80.Current Price is $4.01. Difference: $0.79 - (brackets indicate current price is over target). If AMP meets the Credit Suisse target it will return approximately 16% (excluding dividends, fees and charges - negative figures indicate an expected loss).



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The content of this information does in no way reflect the opinions of FN Arena, or of its journalists. In fact we don't have any opinion about the stock market, its value, future direction or individual shares. FN Arena solely reports about what the main experts in the market note, believe and comment on. By doing so we believe we provide intelligent investors with a valuable tool that helps them in making up their own minds, reading market trends and getting a feel for what is happening beneath the surface. This document is provided for informational purposes only. It does not constitute an offer to sell or a solicitation to buy any security or other financial instrument. FN Arena employs very experienced journalists who base their work on information believed to be reliable and accurate, though no guarantee is given that the daily report is accurate or complete. Investors should contact their personal adviser before making any investment decision.

 

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