More or less for the same reasons i noted aboveConviction Increasing on AMP Cost Saves
While conviction is increasing, AMP still may not fully achieve its cost savings targets, Citi analysts say in a note.
They attributes this partly too its newly announced buyback.
This prompts Citi to lift its earnings per share "significantly," by 19% in FY 2024 and 16% in FY 2025.
This is even as Citi says its forecasts were previously ahead of consensus. Still, Citi sees that AMP looks to have tangible initiatives in place to help it deliver on its cost savings. The stock now looks "more investible," albeit still expensive, it adds, with its main legacy items now dealt with and apparent stability in platform and master trust margins.
Ann: Appendix 4E & 2023 Annual Report, page-32
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Last
$1.52 |
Change
0.015(1.00%) |
Mkt cap ! $3.848B | |||
| Open | High | Low | Value | Volume |
| $1.50 | $1.52 | $1.49 | $8.267M | 5.465M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 84004 | $1.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.53 | 37586 | 2 |
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| AMP (ASX) Chart |