0023 GMT - Pinnacle Investment Management's bull at Canaccord Genuity reckons the Australian company's position at the start of its FY 2027 is among the strongest they have seen in their time covering the stock. Analyst Cameron Halkett recommends that investors look past the short-term cost impacts of Pinnacle's acquisition of Pacific Asset Management, and instead focus on underlying net profit to gauge performance. He thinks that some followers of the stock may struggle to reconcile actual performance with expectations given the acquisition's costs and revenue contributions. However, some explanation should be forthcoming from the ASX-listed investment manager, he says. Canaccord keeps a buy rating on the stock and a target price of 24.53 Australian dollars. Shares are up 0.6% at A$15.80. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 26, 2026 20:23 ET (00:23 GMT)

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