Credit Suisse revises earnings estimates upwards after Charter Hall announced funds under management have increased to $52bn. This reflects 12% growth over the June half.
Credit Suisse anticipates a flow-on benefit to FY22 forecasts from increased base management fees.
Guidance is for earnings per security of at least $0.57 and the broker would not be surprised if the actual outcome is higher. Neutral rating maintained. Target rises to $15.43 from $14.40.
Sector: Real Estate.
Target price is $15.43.Current Price is $15.64. Difference: ($0.21) – (brackets indicate current price is over target). If CHC meets the Credit Suisse target it will return approximately -1% (excluding dividends, fees and charges – negative figures indicate an expected loss).
