I think your high side valuation is close to the mark representing the potential SP increase from here. For me the peer valuation of IFL (closest competitor and comparison to AMP Wealth in terms of business) has a Mkt Cap of circa $1.5bn based on currently depressed share prices. Suncorp bank sale price to ANZ is/was $4.9bn. AMP Bank would probably be no less half this in terms of peer comparison. Any other AMP businesses would then add more to this enterprise break-up value. Current Bank + Wealth would be in the order of $3.5bn to $4bn on current peer comparisons. Wealth has the upside going forward. IMO.
AMP FACTS, page-3
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Last
$1.08 |
Change
0.020(1.89%) |
Mkt cap ! $2.834B | |||
| Open | High | Low | Value | Volume |
| $1.06 | $1.08 | $1.06 | $25.50M | 23.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 139193 | $1.08 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.08 | 37879 | 3 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| AMP (ASX) Chart |