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Perpetual Ltd (PPT) $35.09

PPT has certainly outperformed MFG over the last 6-months but it has also drifted lower , having said that it now looks solid around the $35 area. We believe the stocks fairly cheap at current levels with an estimated yield above 5% fully franked very attractive even as bond yields nudge higher. However PPT is going to  find it tough to rally if we see ongoing volatility / weakness in global equities meaning it’s unlikely we will buy short-term although it does clearly appeal from a yield perspective.

PPT
MM is neutral / bullish PPT around $35
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Perpetual Ltd (PPT)
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