Link Administration is withdrawing guidance for FY20. Some of the business is affected by market volatility and reduced margin income on float balances.

Still, Morgan Stanley considers the stock one of the more defensive in the non-bank financials.

The company has also indicated it will remain comfortably within its debt covenants but is also taking measures to reduce costs.

Equal-weight. Target is $5.30. In-Line industry view maintained.

Sector: Software & Services.

Target price is $5.30.Current Price is $2.70. Difference: $2.60 - (brackets indicate current price is over target). If LNK meets the Morgan Stanley target it will return approximately 49% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2020 Acquisdata Pty Ltd., source FN Arena