Citi raises PT for Australia’s Latitude Group; upgrades to ‘neutral’ — TradingView News

** Analysts at Citi hike price target and upgrade rating for Australian fintech firm Latitude Group Holdings LFS on the back of immateriality of depressed near-term earnings vs longer-term profitability

** Raises price target for LFS to A$1.15 from A$0.95; upgrades rating to “neutral” from “sell”

** Brokerage lowers its FY24 and FY25 earnings forecast for LFS by 20% and 12% respectively, largely on a more muted NIM recovery

** Forecasts a recovery back to FY22 profitability of about A$150 mln ($98.39 mln) of NPAT by FY26

** “With NIM and receivables having stabilized in 2H23, LFS faces into 2024 with an incrementally positive environment for…