2255 GMT - The potential for one of Pinnacle Investment's two new affiliates to have a transformational impact isn't reflected in the Australian investment manager's share price, according to its bull at Wilsons. Analyst Cameron Halkett sees an opportunity for Pinnacle to leverage Pacific Asset Management's technology to challenge Australia's asset consultancies in what he tells clients is the fast-growing managed-accounts market. He writes in a note that he anticipates future benefits as Pacific's operations mature. Wilsons lifts its target price by 29% to A$26.50 and keeps an overweight rating on the stock, which is at A$23.69 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 19, 2025 17:55 ET (22:55 GMT)
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