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Morningstar cuts Australia's Pinnacle Investment fair value estimate on slower assumed growth

By Reuters News20:12 (UTC), 28 September 2026 Updated

** Morningstar cuts fair value estimate for Pinnacle Investment PNI.AX by 5% to A$12.70

** Pinnacle affiliate Metrics Credit Partners disclosed on Monday its net tangible assets (NTA) will be 5% lower than earlier estimates, following which it voluntarily suspended trading for three ASX-listed funds

** Morningstar cuts fair value estimate on slower assumed growth, countering previously assumed strong net inflows

** Morningstar says this is the first publicized negative NTA revision it is aware of for Metrics and is linked to the manager's 2026 audit

** Investment research firm deems the write-downs as having potential for negative ramifications

** 9 of 9 analysts rate the stock "buy" or higher; their median PT is A$23.40, according to data compiled by LSEG

** Stock down 24.7% YTD as of last close

($1 = 1.4241 Australian dollars)

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