The penny that needs to drop, for which I think the market is waiting before any meaningful re-rating of the stock can occur, is the final remediation charges IOOF will face.
I would assume that any incoming CEO would not assume his post without having that figure at hand, and disclosed to the market.
That therefore implies that the remediation numbers disclosed by IOOF to date - which, recall, are decidedly modest in the context of all the outrage that accompanied the banking royal commission - might be the final figures.
But then that situation simply sounds too good to be true.
That certainly seems to be the position of the market based on the way it is valuing the stock.
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IFL Price at posting:
$5.16 Sentiment: Hold Disclosure: Held
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