Pinnacle Bull Sees Scope for Further M&A -- Market Talk

Dow Jones
02/04

0009 GMT - Pinnacle's bull at Macquarie sees continued scope for accretive M&A following the Australian investment manager's acquisition of London-based Pacific Asset Management. The latest accretive acquisition further supports Pinnacle's international ambitions and leaves about A$110 million that could be directed at further deals, a Macquarie analyst writes in a note. The analyst tells clients that Pinnacle's 1H underlying profit was 2.3% stronger than they had forecast, driving EPS upgrades of up to 3% through FY 2029. Macquarie trims its target price 4.9% to A$25.25, reflecting factors including an updated discount rate, and maintains an outperform rating. Shares are up 4.4% at A$17.95. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

February 03, 2026 19:09 ET (00:09 GMT)

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