0026 GMT - Pinnacle's bull at Wilsons Advisory believes that its opportunity in Australia's managed-accounts market has yet to be fully priced into its stock. Analyst Cameron Halkett tells clients in a note that he has conviction in the medium-term EPS growth potential from managed accounts offered by Pinnacle affiliate Pacific Asset Management. He points to Life Cycle's strong performance since becoming an affiliate in Pinnacle's most recent fiscal half as evidence of the opportunity on offer. It's possible that Pinnacle could deliver more than A$100 million in gross performance fees in its fiscal second half, Halkett adds. Wilsons lifts its target price 9% to A$28.95 and stays overweight on the stock, which is down 1.7% at A$25.60. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 19:26 ET (00:26 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.