GQG shares tipped for 34pc rise
Richard Henderson Australian Financial Review
Shares in GQG, the US fund manager that listed on the ASX in the biggest initial public offering of 2021, are tipped to surge by a third, Goldman Sachs analysts anticipate, given robust organic growth prospects.
The fund house run by Rajiv Jain, who for decades managed a successful active equity strategy for the US arm of Swiss fund manager Vontobel, has attracted vast sums of customer assets through the pandemic.
The growth is set to continue, according to Goldman Sachs analysts, and the path ahead is not currently factored into the company’s share price valuation. The analysts have set a 12-month price target of $2.45 per share, 34 per cent above Wednesday’s closing price.
They expect earnings per share to jump 50 per cent within four years, mirroring the rate of revenue growth to nearly $600 million by the 2024 financial year.
The analysts said their investment case was underpinned by “solid investment performance, the lowest quartile fee offering among global peers, and strong distribution,” which, combined with a scalable business model, offered “robust financial outcomes’’.
They also pointed to an alignment between management, staff and shareholders given broad equity holdings of the business.
GQG shares tipped for 34pc rise Richard Henderson Australian...
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| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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