The investor briefing signalled to UBS that the Perpetual Private and Perpetual Corporate Trust divisions are well-positioned for solid growth. In comparison, prospects in Perpetual Investments remain more mixed, given a softer performance across the key Australian equity franchise.
UBS maintains a Neutral rating, noting little clarity on the benefits and risks of the management opportunities that the company is continuing to assess offshore. Target is raised to $37.90 from $35.00.
Sector: Diversified Financials.
Target price is $37.90.Current Price is $39.64. Difference: ($1.74) – (brackets indicate current price is over target). If PPT meets the UBS target it will return approximately -5% (excluding dividends, fees and charges – negative figures indicate an expected loss).
