Following Pinnacle Investment Management’s market update on performance fees and funds under management, Macquarie has retained its Outperform rating.
The analysts have significantly upgraded performance fee forecasts, and continue to see further upside potential. They also express their confidence about the ability to continue attracting funds inflows, in particular from retail investors.
Price target lifts to $7.96 from $6.26.
Sector: Diversified Financials.
Target price is $7.96.Current Price is $7.19. Difference: $0.77 – (brackets indicate current price is over target). If PNI meets the Macquarie target it will return approximately 10% (excluding dividends, fees and charges – negative figures indicate an expected loss).
