Following a trading update at Steadfast Group's AGM, Ord Minnett maintains its Accumulate rating and $5.32 target price. FY22 earnings (EBITA) guidance was unchanged and implies to the broker growth of 24% on FY21.

First quarter earnings are 13.4% ahead of the same period last year, and the analyst expects this growth run rate to improve further. This because the Coverforce acquisition was only completed part-way through Q1. Additional small acquisitions are also planned.

Sector: Insurance.

Target price is $5.32.Current Price is $4.82. Difference: $0.50 - (brackets indicate current price is over target). If SDF meets the Ord Minnett target it will return approximately 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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