Morgans sees the first half result for
The broker highlights group surplus capital remains strong and well up on April, while the home loan portfolio grew 10% sequentially.
Negative surprises included credit and other impairment charges broadly tripling versus the previous corresponding period and
The first half dividend was slight better than consensus.
Morgans lifts FY21 and FY22 EPS forecasts by 3%-6% on various changes to divisional earnings assumptions.
The Add rating is unchanged and the target is increased to
Sector: Diversified Financials.
Target price is
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