From my brief reading, both Morgans and UBS reduction in 'target price' is a result of the following:
*Estimate that funds outflow will be around $23B over the next 3 years.
*MFG will be forced to lower their base management fee: at 1.35% its higher than many competitors. They are assuming a reduction in base management fees of 60bps to bring it into line with market leading rates.
*MFG cost structure cannot be reduced without the risk of loosing talent staff.
As a result FY24 EPS is estimated at $1.46
FY22 EPS: $2.43
FY23 EPS: $1.77
FY24 EPS: $1.46
MFG Fair Value, page-3
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Last
$9.04 |
Change
0.065(0.72%) |
Mkt cap ! $1.619B | |||
| Open | High | Low | Value | Volume |
| $8.99 | $9.04 | $8.83 | $2.216M | 247.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 17 | 1262 | $9.03 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $9.04 | 6236 | 10 |
View Market Depth
| Last trade - 13.27pm 30/04/2024 (20 minute delay) ? |
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Last
$9.04 |
Change
0.065 ( 0.89 %) |
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| Open | High | Low | Volume | ||
| $9.02 | $9.05 | $8.84 | 53039 | ||
| Last updated 13.49pm 30/04/2024 ? | |||||
| MFG (ASX) Chart |