PPT shares fell the most in a month yesterday following its profit miss, the weakness also saw the stock make new 4 month lows. The underlying profit of $163.2mn was only ~2% below expectations, however lower revenue and higher costs are a bad combination – the latter being a cause for concern. The market’s reaction wasn’t too bad particularly given optimistic analysts, 10 buys, 2 holds and no sells – Perpetual Financials.
- We believe some value is emerging in PPT and the market reaction over the coming days will be worth watching.
MM is neutral PPT around $23
Add To Hit List
