Macquarie assesses visa statistics are strong leading indicators of the company’s international students and workers business. Student visa growth continues to be affected by the closure of Australian borders to non residents.
As borders have only just re-opened this indicates volumes are likely to remain depressed for another 3-6 months.
The broker also points out nib Holdings is one of the cheapest major insurers for workers and visitors product, and this signals the opportunity for revenue growth over the course of the next year. Neutral rating retained. Target rises to $7.15 from $7.05.
Sector: Insurance.
Target price is $7.15.Current Price is $6.72. Difference: $0.43 – (brackets indicate current price is over target). If NHF meets the Macquarie target it will return approximately 6% (excluding dividends, fees and charges – negative figures indicate an expected loss).
