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2.0¢ freedom insurance group ltd

Loss of trust reflected in the share price, page-74

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Keiran91

52 Posts.

23/02/18

13:38

Post #: 31290607
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Originally posted by tessastanle ↑

Should also note that FIG management didn't come across well-prepared or polished during Q&A on yesterday's call.

Comments from CEO/CFO such as "I'm reluctant to give any numbers" around H2/cost base, "really can't put a handle" on regulatory outlook and "everything is up for grabs" in terms of affirming trail asset metrics certainly didn't inspire confidence.

Not sure if fundies/instos like Bell Potter, Pie and Forager came away impressed either.

Again CEO shooting himself in the foot by selling a % of his holding before downgrade last year and damage to credibility now looks to be sustained for some time ahead, with cloudy outlook being painted yesterday.

Meanwhile downside pressure is building and volume increasing, share price back to pre-result on Tues.

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For what it's worth Bell Potter reiterated their buy recommendation but lowered their price target to $1.06 from $1.09.

FIG Price at posting: 40.0¢ Sentiment: Buy Disclosure: Held
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