Tiger Brokers

BUZZ-Australia's HMC Capital rises as Morgan Stanley raises PT to Street-high

Reuters
Dec 12, 2024

(Updates with share moves) ** Shares of HMC Capital rise as much as 5.9% to A$12.390 after Morgan Stanley raises price target to Street-high of $12.98 from $10.95

** Brokerage sees increase in HMC's assets under management citing underwritten establishment of DigiCo REIT with AUM of A$4 bln ($2.55 bln), and the progress of Energy Transition Fund

** Also sees higher FY25 pre-tax earnings of 71.4 AU cents per share, reflecting better month-on-month trading update for November

** Stock among top gainers on the benchmark S&P/ASX 200

index which is flat

** Average rating of seven brokerages is a "hold;" median PT is A$8.94 — LSEG

** As of last close, stock up 89.9% YTD

($1 = 1.5704 Australian dollars)

(Reporting by Aaditya Govind Rao and Nichiket Sunil in Bengaluru) ((Nichiket.Sunil@thomsonreuters.com))

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