BP snips "Record inflows across the business PPS has delivered a...

BP snips

"Record inflows across the business PPS has delivered a record A$494m in gross platform inflows, with FUA increasing 6.1% over the quarter to $5.1 billion. The company’s strategy continues to gather momentum, with both the Australian (A$354m) and international (A$140m) platforms generating record gross inflows and FUA in the emerging Smartim is approaching A$500m. The stellar quarterly update follows a string of successful updates, and we expect the growth in the business to continue. PPS is a high growth stock and continues to be one of our top picks in the sector."

"Earnings revision We have upgraded our estimates for underlying cash EPS by 7.1%, 8.0% and 7.0% respectively after the quarterly update. The earnings revisions are driven by the higher than expected gross inflows and the effect of a lower currency on estimates for operating losses in the UK business. Following the changes we have upgrade our Price Target to $0.75 per share (previously $0.72 per share) and reiterate our Buy recommendation"