0409 GMT - Navigator Global Investments keeps its bull at Morgans following another solid quarter for the alternative-asset manager. Keeping a buy rating on the stock, analyst Richard Coles acknowledges that growth in sequential ownership-adjusted assets under management moderated to 6% in the June quarter, from 9% three months earlier, but observes that this occurred against the backdrop of volatile global markets. Overall, he tells clients in a note that the Australian company is well placed to benefit from structural tailwinds in global alternative assets. Coles attributes the stock's recent selloff to sector-wide caution on private credit, rather than a change in fundamentals. Morgans cuts its target price 7.7% to 3.13 Australian dollars. Shares are up 1.1% at A$2.405. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
July 21, 2026 00:09 ET (04:09 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments