Finweek English Edition - - INVESTMENT -

HOLD SBG Se­cu­ri­ties have up­graded their tar­get price on the as­set man­age­ment group from R13 to R15/ share fol­low­ing the re­lease of a re­cent trad­ing up­date. SBG wrote in a note to clients: “We have up­graded our Pere­grine earn­ings by 14% and 10% over the next t wo years and given that much of this up­grade has been in Citadel (the high­est P/E busi­ness per our val­u­a­tion), this has re­sulted in our price tar­get in­creas­ing from R13 to R15. We be­lieve Pere­grine con­tin­ues to of­fer a de­cent earn­ings out­look with a com­pelling div­i­dend story to boot.”

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