Bell Potter Target $15.50

Note from Bell Potter...There is hope yet for us that bought in the $10's

Pendal Group (PDL)PDL (formerly BTT) returns asone of our Key Picks for FY2019,with the company continuing tofocus on future growth through theselective expansion of its investmentcapabilities, and significant investmentin seeding new offerings.PDL is expected to exceed A$100bnin FUM during FY19, and we believePDL’s strategy remains supportive ofour double digit EPS growth forecastover the medium term. We continue torate the stock as one of our top picksin the sector.Buy, Price Target $15.50