Q: Thoughts on the quarter from Cannacord.
Would you be a buyer for a 2 year timeframe?
Thanks Rob
Would you be a buyer for a 2 year timeframe?
Thanks Rob
5i Research Answer:
EPS of 20c matched estimates; Revenue of $428.6M missed estimates of $448M. Investment banking and wealth revenue rose with recent acquisitions. Total revenue rose 27%. Strong capital markets also helped. Client assets rose 18% to $110B. Depsite mixed results vs estimates, we would consider the growth and results decent. The stock is doing well and remains cheap on most valuation metrics. We would be OK buying for income and some growth, and there is always the possibility of another privatization bid or takeover one day.