BUZZ-Citi raises price target for Australia's nib Holdings

Reuters
Jul 10
BUZZ-Citi raises price target for Australia's nib Holdings

** Analysts at Citi raise price target for Australia's health and medical insurer nib Holdings NHF.AX to A$6.95 per share

** Brokerage says there is some safety that co's Australian Residents Health Insurance segment is appearing to be growing well

** Citi expects NHF's FY25 underlying operating profit to fall within its lower end of previously guided range

** Brokerage raises co's EPS estimate for FY25 by 1%, but trims FY26 and FY27 estimates by 1% and 2%, respectively

** Citi flags it is uncertain about co's claims inflation outlook beyond FY25

** Given difficulties with performing in-depth analysis and, with the new CEO still relatively early in his tenure, we still fear elements of rebasing, as simplification efforts continue - Citi

** Six of 10 analysts rate the stock "buy" or higher, three "hold", and one "sell"; their median PT is A$7.32, as per data compiled by LSEG

** Stock up 29% YTD, as of last close

(Reporting by Anjali Singh in Bengaluru)

((anjali.singh2@thomsonreuters.com))

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