BUZZ — Australia's AMP falls, Jarden cuts PT after Q3 update
(Updates) * Shares of Australian wealth manager AMP 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) (Reporting by Paridhi Minda & Aamir Sheik Khalid in Bengaluru) ((Paridhi.minda@thomsonreuters.com, Aamir.SheikKhalid@thomsonreuters.com)
(Updates) * Shares of Australian wealth manager AMP 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) (Reporting by Paridhi Minda & Aamir Sheik Khalid in Bengaluru) ((Paridhi.minda@thomsonreuters.com, Aamir.SheikKhalid@thomsonreuters.com)