0102 GMT - HMC Capital's capital-light model and strong history of growth help attract a pair of new bulls at Jefferies. Analysts Simon Fitzgerald and William Richardson initiate coverage of the alternative asset manager with a buy recommendation, highlighting its exposure to sectors including real estate, digital infrastructure and energy transition. They observe that growth to date has been achieved through investment in large macroeconomic mega-trends. It is this approach that HMC hopes will more than double its assets under management within the next three to five years. HMC could look very different in a few years, they say. Jefferies puts a A$7.62 target price on the stock, which is down 0.5% at A$5.70. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 18, 2025 21:02 ET (01:02 GMT)
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