Hi
I would think:My view is that PGL is significantly undervalued at this time, however they have a lot of work to do to restore the trust of the market and interest rates do also need to stabilise before value can be restored. I think the HY23 result has meant a lot of people have lost confidence (given the share price). I would say there is better value elsewhere given the significant risks of this type of lending in this environment.
- Missed IPO forecasts
- Fears about upcomming bad debts that come with a recession and unsecured lending to uncrediwothy borrowers
- Lack of interest of institutional shareholders in that type of lending
- Have not achieved constant growth at the NPAT level (ie went backwards in the first half of FY23) as opposed to a company like PLT which seems to be constantly improving at that level each result
- Forums
- ASX - By Stock
- PGL
- Ann: PGL Trading Update 3Q23
Ann: PGL Trading Update 3Q23, page-8
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