Credit Suisse rates NWL as Underperform
Net inflows in the June quarter were ahead of guidance. Credit Suisse was pleased with the recovery that seems to suggest some level of normality is returning.
The company now expects to slightly exceed revenue and earnings guidance. However, FY21 revenue margins are likely to be under pressure following the cut to cash administration fees and the migration from back book to front book pricing.
Hence, Credit Suisse envisages minimal defence in terms of valuation against any shock and reiterates an Underperform rating. Target rises to $8.45 from $8.30.
Ann: June 2020 Quarterly Business Update, page-6
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$21.67 |
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Mkt cap ! $5.288B | |||
| Open | High | Low | Value | Volume |
| $21.70 | $21.82 | $21.33 | $3.550M | 164.1K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 217 | $21.56 |
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| Price($) | Vol. | No. |
|---|---|---|
| $21.67 | 1084 | 3 |
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