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IFL - Macquarie rates as Outperform
BY BROKER NEWS - 08/08/2018 | VIEW MORE BROKER UPDATES

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IFL - IOOF HOLDINGS LIMITED


FY18 results were slightly below Macquarie's expectations. The broker recognises the current regulatory landscape is challenging but believes a significant discount in valuation to take account of this is not really justified, given the growth profile following completion of the OnePath acquisition.

Cost performance was the highlight of the result but, with margin compression to continue, discipline will need to prevail, in the broker's view. Outperform rating. Target reduced to $11.20 from $11.40.

Sector: Diversified Financials.

Target price is $11.20.Current Price is $8.70. Difference: $2.50 - (brackets indicate current price is over target). If IFL meets the Macquarie target it will return approximately 22% (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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