AMP Bull Encouraged by Profit Upgrade

Dow Jones07-17

Jefferies raises its price target on AMP by 18% to A$2.07/share following the Australian wealth manager's earnings upgrade. AMP has guided to a 1H underlying net profit of A$170 million-A$180 million. That's well above consensus forecasts of A$142 million. "While encouraging, 1H26 will include carried interest from legacy investments of A$13 million, gains on North Capital Guaranteed hedging of A$5 million and a negative revaluation related to sponsor capital of A$12 million," analyst Simon Fitzgerald says. Such items may be volatile or lumpy. Still, the balance of the business looks to be performing better than consensus expectations, Jefferies says. AMP ended Thursday at A$1.90. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 16, 2026 19:27 ET (23:27 GMT)

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Such items may be volatile or lumpy. Still, the balance of the business looks to be performing better than consensus expectations, Jefferies says. AMP ended Thursday at A$1.90. 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Still, the balance of the business looks to be performing better than consensus expectations, Jefferies says. AMP ended Thursday at A$1.90. 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