Judo Capital Holdings' (ASX:JDO) 17% share decline on Thursday was a "back to earth move", as market expectations had been overly optimistic about the company's outlook, according to a Friday report by the Australian, citing Macquarie.
On Thursday, the company said net growth for the March quarter was subdued due to seasonality, as well as higher run-off due to the residual impacts of the portfolio management undertaken during the fiscal first half.
The company cautioned that growth is expected to be lower than guidance provided at the first half result, citing market uncertainty impacting customers, balancing growth and economics, and the slower initial ramp-up of warehouse lending.
Macquarie analysts noted that Judo's 15% profit before tax growth target could be at risk due to these mounting pressures.
The firm maintained Judo's neutral rating but cut its price target to AU$1.70.
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