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Australia's AMP falls, Jarden cuts PT after Q3 update

By Reuters News5 hours ago Updated

** Shares of Australian wealth manager AMP AMP.AX fall as much as 3.5% to A$2.315

** Jarden cuts PT by 1.9% to A$2.55

** Lowers EPS estimate by 2.5% for FY26, 1.8% for FY27, and 2% for FY28 due to slower loan growth

** But says AMP could grow with its platforms business

** Jefferies raises price target to A$2.80 from A$2.77, maintains "buy" rating following co's Q3 update

** Jefferies says FY26 YTD platform net cash flows A$4.5 billion ($3.11 billion), up 29%

** Morningstar raises fair value estimate by 17% to A$1.75, citing improved business quality, stabilising wealth business

** Morningstar says co's wealth-management business is turning around in both volumes and earnings

** Says AMP's margin pressure could ease over time as it diversifies its funding mix, among other operations

** Stock up more than 31% YTD

($1 = 1.4457 Australian dollars)

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