Challenger Ltd
CGF: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$4.10 | Scwl | Bwbkbdwy |
Challenger Earnings: Past Investments Bearing Fruit
We marginally lift our fair value estimate for no-moat Challenger to AUD 7.40 per share from AUD 7.30 following the first-half fiscal 2024 results. An 8% intraday rerating in shares follows 16% growth in normalized pretax profits against the previous corresponding period and more upbeat guidance for fiscal 2024. Shares are now close to fair value.