COG Financial's Largest Acquisition Looks Cheap to Bull -- Market Talk

Dow Jones

Sep 04, 2025

0141 GMT - COG Financial's acquisition of salary packager EasiFleet looks cheap on a post-synergies basis, according to its bull at Bell Potter. Analyst Hayden Nicholson tells clients that COG's largest acquisition to date should bring an immediate margin contribution, with volumes rising on consolidation. He sees more than A$7 million in annual Ebitda accretion from customer migration efforts within as little as 12 months after completion. Nicholson is particularly enthusiastic about the fact that there is no overlap in clients between COG and EasiFleet. Bell Potter raises its target price by 9.8% to A$2.25 and keeps a buy rating on the stock, which is up 7.4% at A$2.03. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

September 03, 2025 21:41 ET (01:41 GMT)

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Analyst Hayden Nicholson tells clients that COG's largest acquisition to date should bring an immediate margin contribution, with volumes rising on consolidation. He sees more than A$7 million in annual Ebitda accretion from customer migration efforts within as little as 12 months after completion. Nicholson is particularly enthusiastic about the fact that there is no overlap in clients between COG and EasiFleet. Bell Potter raises its target price by 9.8% to A$2.25 and keeps a buy rating on the stock, which is up 7.4% at A$2.03. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 03, 2025 21:41 ET (01:41 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>COG Financial's Largest Acquisition Looks Cheap to Bull -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nCOG Financial's Largest Acquisition Looks Cheap to Bull -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-09-04 09:41</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0141 GMT - COG Financial's acquisition of salary packager EasiFleet looks cheap on a post-synergies basis, according to its bull at Bell Potter. Analyst Hayden Nicholson tells clients that COG's largest acquisition to date should bring an immediate margin contribution, with volumes rising on consolidation. He sees more than A$7 million in annual Ebitda accretion from customer migration efforts within as little as 12 months after completion. Nicholson is particularly enthusiastic about the fact that there is no overlap in clients between COG and EasiFleet. Bell Potter raises its target price by 9.8% to A$2.25 and keeps a buy rating on the stock, which is up 7.4% at A$2.03. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  September 03, 2025 21:41 ET (01:41 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"COG.AU","symbol_name":"COG Financial Services Ltd","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2564495363","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2564495363","pubTimestamp":1756950060,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0141 GMT - COG Financial's acquisition of salary packager EasiFleet looks cheap on a post-synergies basis, according to its bull at Bell Potter. Analyst Hayden Nicholson tells clients that COG's largest acquisition to date should bring an immediate margin contribution, with volumes rising on consolidation. He sees more than A$7 million in annual Ebitda accretion from customer migration efforts within as little as 12 months after completion. Nicholson is particularly enthusiastic about the fact that there is no overlap in clients between COG and EasiFleet. Bell Potter raises its target price by 9.8% to A$2.25 and keeps a buy rating on the stock, which is up 7.4% at A$2.03. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"COG.AU":"COG Financial Services Ltd","BK7054":"投资银行业与经纪业"},"translate_title":"COG Financial最大的收购看起来对牛市来说很便宜——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COG.AU":0.9},"content_text":"0141 GMT - COG Financial's acquisition of salary packager EasiFleet looks cheap on a post-synergies basis, according to its bull at Bell Potter. Analyst Hayden Nicholson tells clients that COG's largest acquisition to date should bring an immediate margin contribution, with volumes rising on consolidation. He sees more than A$7 million in annual Ebitda accretion from customer migration efforts within as little as 12 months after completion. Nicholson is particularly enthusiastic about the fact that there is no overlap in clients between COG and EasiFleet. Bell Potter raises its target price by 9.8% to A$2.25 and keeps a buy rating on the stock, which is up 7.4% at A$2.03. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  September 03, 2025 21:41 ET (01:41 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}