MA Financial shares lift as Jarden initiates coverage at ‘overweight’
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The news: MA Financial shares have jumped as Jarden has initiated coverage of the alternative asset manager at ‘overweight’.
The numbers: MA Financial shares were up 5.02% to $7.11 by 3:08pm AEDT and over the past 12 months have dropped 3.27%.
Jarden noted its shares have tumbled 30% year to date and this presented an attractive entry point as the stock is now tracking on 14 times price to earnings over the next 12 months.
Jarden has a target price of $9.45 on the stock.
The context: Jarden analysts said the overweight rating on the company was because they “like the story” and pointed to multiple earnings drivers and good execution from management.
The analysts are forecasting 38% growth in FY26 earnings per share and 22% growth in FY27 driven by double digit assets under management, growth in its asset management arm focused in real estate and private credit, strong operating leverage in MA Money, and a moderating drag from the US business.
Despite market jitters around private credit due to news flow in the US, brought by highly levered software loans, the analysts expect demand for high quality private credit products to continue.
What they said: “Looking at MAF’s trend in gross inflows in private credit, the momentum in investor demand is clear. The first six weeks of FY26 have seen continued gross flow momentum,” Jarden said.
“However, outflows have been elevated in the period, seeing the net inflow number slow. It is not unusual to see short periods of outflow activity, like in 1H25, and these funds are open ended. However, given the broader noise around private credit, we will be closely watching this trend (2H25 group flows boosted by several large responsible entity transactions).”
The source: Jarden research
