Based on yesterday’s update I can’t believe how under priced MFG at the moment. They had a profit of $454 m last year (2021FY)before principal investments losses. Now that we can assume these principal investments will at least break even, being on conservative side, MFG profit calculation is very different. On top of that Brett said expenses are tracking normally and based on scale up capacity, on current FUM of $114 B compared to last year average of A$103.5B, net profit after tax will be over $500m. That is EPS of around of A$2.75. This should give a minimum of A$45 SP. As investors accept the principal investments are going to do well on long term basis, SP of A$50 easily achievable.
MFG Price at posting:
$36.47 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)