The broker views the performance as resilient and highlights a strong second half EBITDA margin, the US business becoming profitable and funds under administration (FUM) growing 14% on the previous corresponding period.
Management provided FY21 guidance of around
A final dividend of 1cps was declared.
Morgans reiterates the company is too cheap for its long-term growth profile.
The Add rating is maintained. The target price is increased to
Sector: Diversified Financials.
Target price is
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