From Fnarena: I do find the comments about being committed to advice and the big 4 retreating interesting. This is also probably who the SP is up today.
BROKER
DATE
RATING
RECOMMENDATION
TARGET PRICE
% TO REACH TARGET
1
Morgan Stanley
28/11/2017
1
Upgrade to Overweight from Equal-weight
$13.00
16.38%
2
COMMENTARYThe acquisition of the ANZ ((ANZ)) wealth business is a landmark deal in Morgan Stanley's view, with scope for substantial upside to targeted synergies. The deal takes out a major competitor and delivers substantial scale.The broker notes IOOF and AMP ((AMP)) appear to be the only major players committed to advice, as banks are retreating. In the long run the broker considers this an attractive situation.Rating is upgraded to Overweight from Equal-weight. Target is raised to $13.00 from $9.90. Industry view is In-Line.
IFL Price at posting:
$11.33 Sentiment: Buy Disclosure: Held
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