GDG - Morgans rates as Add
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The company has delivered a strong quarterly performance, Morgans observes. The broker lifts FY18 estimates for earnings per share by 8% and FY19 by 22%. There was another material jump in sales inflows.
The broker likes the story and, post recent changes in superannuation, believes alternative low-tax investment options such as investment bonds will experience significant structural growth. Add rating maintained. Target rises to $1.44 from $1.33.
Target price is $1.44.Current Price is $1.13. Difference: $0.31 - (brackets indicate current price is over target). If GDG meets the Morgans target it will return approximately 22% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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