Finally an upgrade from a investment bank to outperform. Still a low price target of $38 From Macquarie. I hope this is the first step. I hope Hamish can give something positive for the market at the AGM. As long as there is no major outflow on FUM average around $115B, he should definitely be able to say first HY 2022 will be 15% more than 2021. He can also talk about how they are back on track with performance from March 21 onwards. Mr. Market needs some positive feed back from management. With Global interest rates going up, lot of markets around the world will find it difficult as US$ is bound to appreciate . All these countries which .depended on fiscal stimulus on construction and property will find it difficult. This happens over and over like Japan in eighties, Australia in early nineties, USA with GFC, Spain after GFC. The world debt as % of GDP sitting at the highest rate, small increase in interest rate will be sufficient to slow down. This is will be time for MFG portfolio to shine.
MFG Price at posting:
$32.86 Sentiment: Buy Disclosure: Held
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