IFL insignia financial ltd

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$4.50

Hi Transversal,If you don't mind me asking, which sites or apps...

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Gishmibop

1 Posts.

16/11/18

20:21

Post #: 36538645
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Originally posted by Transversal: ↑

UBS and Morgan Stanley have cut their price targets on IOOF by 25% (from 9.35$ to 7.00$) and 10% (from 12.00$ to 10.80$) respectively.

UBS’s rationale for the downgrade, in particular, is as follows:

2232 GMT - IOOF is firmly in the grip of structural and regulatory pincers, argues UBS as it cuts its target on the shares 25% to A$7. The investment bank believes that even trading at 10.6 times the consensus earnings forecast and underperforming the market by about 30% in 2018, there still isn't sufficient value to compensate investors for risks. That's despite an 8% expected dividend yield, since EPS is expected to fall 8% through FY20 and uncertainty over what recommendations for the industry will come from an ongoing judicial inquiry into misconduct, possible customer remediation costs and declining upside from the wealth-management assets being bought from ANZ, UBS says. ([email protected]; @RobbMStewart)
(END) Dow Jones Newswires
November 15, 2018 17:32 ET (22:32 GMT)

For context, note that in August IOOF guided underlying EPS growth of ~5% in FY19 and ~15% in FY20; that corresponds to cumulative EPS growth of ~21% by FY20 (before markets and inflows).

Therefore, by saying that “EPS is expected to fall 8% through FY20”, UBS are implying a hit from regulatory changes in the order of -30%. And, of course, no mention is made of the fact that IOOF also guided EPS growth of >20% in FY21 following the full integration of ANZWM.

My personal take: Sell UBS.

IMHO & DYOR

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Hi Transversal,

If you don't mind me asking, which sites or apps do you use to get notified that UBS and Morgan had updated targets recently?

Thanks

IFL Price at posting: $6.84 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last $4.50		Change 0.000(0.00%)		Mkt cap ! $3.018B

Open	High	Low	Value	Volume
$4.50	$4.52	$4.49	$20.55M	4.568M

Buyers (Bids)

No.	Vol.	Price($)
7	152338	$4.49

Sellers (Offers)

Price($)	Vol.	No.
$4.51	17347	3

View Market Depth

No.	Vol.	Price($)
6	150667	4.490
4	200889	4.480
1	1000	4.470
2	12233	4.460
4	1013477	4.450

Price($)	Vol.	No.
4.510	16322	1
4.520	106438	10
4.530	113800	4
4.540	74401	12
4.550	330111	13

Last trade - 16.10pm 25/07/2025 (20 minute delay)

IFL (ASX) Chart

Hi Transversal,If you don't mind me asking, which sites or apps...

Friday's HotCopper trends: Renascor concentrate, Larvotto raise | July 25

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Listen: HotCopper Wire Podcast 019 – Dreaming of the 9,000s

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Hi Transversal,If you don't mind me asking, which sites or apps...

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Firetail scoops up untested land around Excelsior – including juicy mineralisation target

ASX Market Close: Fading miners drag bourse as iron ore price slumps | July 25

Most investors will get this earnings season wrong. Will you?

Listen: HotCopper Wire Podcast 019 – Dreaming of the 9,000s

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What is going on here? Watch out for DroneShield, Pure Hydrogen, and Nel ASA

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