SELL Price target hit - Judo Holdings (JDO)
*** GENERAL AVICE ONLY***
Date: 30/1/2021
Recommendation
Trim Half of Judo Capital Holdings (JDO)
Entry price: $0.85 (14/12/2023)
TRIM: >$0.95 (+12%)
For remaining half
NEW Target Price: $1.15 (+35%)
Stop Loss: $0.85 (-10% trailing stop)
Rationale:
Judo Capital Holdings Limited (Judo Bank) reported a strong first half of the fiscal year 2024, with a notable profit before tax increase of 24% compared to the previous period. The bank’s net interest margin (NIM) was 3.02%, with a strong capital position (CET1 ratio of 16.2%). Judo Bank anticipates a profit before tax of $40-45 million for 2H24, leading to a total of $107-112 million for FY24.
We are selling the remaining position for Judo because it has hit our price target of $1.15.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.