AMP Still Morgan Stanley's Favored Australian Wealth Manager
AMP remains Morgan Stanley's preferred Australian wealth manager but sees that the company still needs to rebuild trust to re-rate.
In a note, MS says that trading at around 10.5 times FY 2025 estimated price-earnings ratio, AMP seems compelling at first glance. But, MS reckons AMP needs to deliver for shareholders, and remains equal weight as it sees more upside and less uncertainty at other stocks.
For FY 2024, MS' forecast for underlying net profit after tax rises 4%, and 3% in FY 2025 on stronger markets and better wealth flow prospects.
AMP Still Morgan Stanley's Favored Australian Wealth ManagerAMP...
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Last
$1.13 |
Change
-0.058(4.85%) |
Mkt cap ! $2.966B | |||
| Open | High | Low | Value | Volume |
| $1.17 | $1.17 | $1.13 | $4.576M | 4.011M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 23 | 164284 | $1.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.13 | 358714 | 41 |
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| Last trade - 13.01pm 05/08/2024 (20 minute delay) ? |
| AMP (ASX) Chart |