AMP Ltd
AMP: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$6.64 | Gqcd | Nqh |
AMP: Encouraging Start to New Year
No-moat AMP’s cash flow update for the first three months of 2024 broadly supports our thesis of moderating net outflows, margin improvements, and a rebound in earnings after the lows experienced in 2022-23. We retain our fair value estimate of AUD 1.20 per share, with shares fairly valued at current prices.