Steadfast Well Placed to Benefit from Operating Efficiency and Insurance Pricing; FVE Remains AUD 3
Our positive long-term view on no-moat-rated Steadfast Group is intact following our regular post-result management catch-up. Despite a modest fully franked dividend yield around 3%, the firm offers attractive earnings upside due to robust underlying fundamentals. We expect Steadfast to benefit from announced growth initiatives, increasing operating efficiency and stronger insurance pricing. Leveraging advanced technology underpins our positive view. Aggressive expansion and execution risk are k...Steadfast Group is engaged in the provision of services to Steadfast Network Brokers, the distribution of insurance policies via insurance brokerages and underwriting agencies, and related services.
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