IOOF Holdings (IFL): Upgrade to Buy

Bell Potter


We have upgraded our recommendation from a Hold to a Buy for the following reasons: The business is displaying strong organic growth in the key divisions of Platforms and Advice & Distribution; There remains meaningful synergies to be extracted from the SFG acquisition; The share price has fallen and Price Target increased since we downgraded to a Hold; and We believe the current low interest rate environment remains generally supportive of wealth managers. Watch our video & Read our full report by analyst Lafitani Sotiriou (VIEW LINK)

Bell Potter Securities is a leading Australian stockbroking, investment and financial advisory firm that provides a comprehensive offering of financial services to a diversified client base that includes individuals, institutions and corporations.

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