Morgans marks-to-market stocks within its Finanacial Services coverage. For Pinnacle Investment Management, there's considered to be structural growth offset by a premium valuation.

The Add rating is unchanged and the target falls to $10.05 from $10.25, driven by lower June funds under management (FUM) and after including a -$3.8m investment loss in FY22 forecasts, explains the analyst.

Sector: Diversified Financials.

Target price is $10.05.Current Price is $8.10. Difference: $1.95 - (brackets indicate current price is over target). If PNI meets the Morgans target it will return approximately 19% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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