Steadfast Well Positioned to Benefit From Attractive Earnings Growth; FVE Unchanged at AUD 3.00
Our positive long-term view on no-moat Steadfast Group is intact following our regular post-results management meeting. This is based on the firm’s attractive growth options, resilient revenue and earnings, the high proportion of long-standing small to midsize enterprise customers, impressive renewal rates, and high customer switching costs. We like the company's attractive earnings upside based on robust underlying fundamentals, but aggressive expansion and execution risk remain key concerns. T...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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