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    CGF   AU000000CGF5

CHALLENGER LIMITED

(CGF)
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Australian shares rise on healthcare, tech boost; Challenger shines

07/06/2021 | 09:36pm EDT

July 7 (Reuters) - Australian shares rose on Wednesday, lifted by the healthcare and technology sectors, while Challenger Ltd jumped after two U.S. companies bought a stake in the investment manager.

The S&P/ASX 200 index climbed 0.26% to 7,280.7 by 0020 GMT and was on track for a third session of gain in four.

Challenger soared more than 13% to become the top gainer on the benchmark index, after retirement services provider Athene Holding Ltd and private equity firm Apollo Global Management acquired a 15% stake in the company.

Healthcare stocks jumped 1.9% after two straight sessions of falls and were set for their best session in nearly three weeks.

Biotech company CSL Ltd and medical device maker Resmed Inc advanced 2% and 2.1%, respectively.

Tech stocks advanced 1.6%, tracking their peers on Wall Street, and were set for their best day in about two weeks.

Buy-now-pay-later firm Afterpay advanced 1.4%, while artificial intelligence company Appen rose 2%.

Gold stocks gained more than 1% as bullion prices firmed on retreating U.S. bond yields.

Top independent gold miner Newcrest Mining advanced more than 1%.

Meanwhile, local media reported a two-week COVID-19 lockdown in the country's largest city of Sydney would be extended by another week to July 16.

Elsewhere, Japan's Nikkei was down 1.35%, while S&P 500 E-minis futures fell 0.14%.

New Zealand's benchmark S&P/NZX 50 index fell 0.6%, weighed down by losses in healthcare and consumer stocks. (Reporting by Soumyajit Saha in Bengaluru; Editing by Subhranshu Sahu)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AFTERPAY LIMITED 0.43% 132.11 End-of-day quote.11.96%
APPEN LIMITED -1.83% 9.68 End-of-day quote.-60.79%
ATHENE HOLDING LTD. 1.88% 69.79 Delayed Quote.61.78%
CHALLENGER LIMITED -0.64% 6.23 End-of-day quote.-3.26%
CSL LIMITED -0.31% 312.01 End-of-day quote.10.18%
NEWCREST MINING LIMITED -2.49% 23.09 End-of-day quote.-10.43%
NIKKEI 225 2.06% 30248.81 Real-time Quote.10.22%
S&P/ASX 200 0.70% 7394.7 Real-time Quote.11.47%
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Analyst Recommendations on CHALLENGER LIMITED
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Financials
Sales 2022 766 M 558 M 558 M
Net income 2022 332 M 241 M 241 M
Net Debt 2022 548 M 398 M 398 M
P/E ratio 2022 15,0x
Yield 2022 3,54%
Capitalization 4 204 M 3 046 M 3 058 M
EV / Sales 2022 6,20x
EV / Sales 2023 5,70x
Nbr of Employees 738
Free-Float 76,6%
Chart CHALLENGER LIMITED
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Technical analysis trends CHALLENGER LIMITED
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 13
Last Close Price 6,23 AUD
Average target price 6,34 AUD
Spread / Average Target 1,75%
EPS Revisions
Managers and Directors
Richard Howes Chief Executive Officer, MD & Executive Director
Rachel Grimes Chief Financial Officer
Peter Leith Polson Chairman
Chris Plater Chief Executive-Operations & Technology
JoAnne M. Stephenson Independent Non-Executive Director