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Ann: AUSTRAC Update - Final Audit Report, page-103

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Andredamus1

2,135 Posts.

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27/11/19

13:26

Post #: 41660487
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Originally posted by Billya: ↑

Morgans has updated their price target. $35.82

Some excerpts from the report.

APT has released summary details of the independent auditor report into its
AML/CTF compliance.
While APT failed to comply correctly with AML/CTF legislation in its infancy, the
majority of the report recommendations have already been addressed with APT’s
transaction monitoring now labelled “effective, efficient and intelligent.”
While an AUSTRAC fine remains a possibility, we continue to see the quantum of
any potential fine as relatively immaterial versus APT’s market cap ($8bn).
Maintain ADD recommendation, PT increased to A$35.82. APT’s initial progress in
the US/UK markets remains encouraging and we believe share price upside exists
if management’s offshore strategy is successfully executed.

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Full list from the Valuation thread

Bell Potter - $49.35
Morgan Stanley - $44.00
Goldman Sachs - $42.90
BAML - $38.70 (from $37.50)
Ord Minnett - $36.50
Morgans - $35.82 (new addition to list)
Citi - $31.10
Morningstar - $23.50
UBS - $17.60

APT Price at posting: $31.99 Sentiment: Buy Disclosure: Held
7 Upvote

0 Great analysis

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