Growth Focus: Pinnacle Investment Group (PNI)

by Patrick Taylor




Date of Data Capture: 09/10/2020

Name: PINNACLE INVESTMENT GRP LTD (PNI)

Classification: Investment Services

Current Price: $5.32

Market Capitalisation: $923 M

Forecast EBITDA Growth: 18.68%

Yield Estimate: 2.96%

Consensus Price Target: $6.08

# Covering Analysts: 4

Discount at Current Price: -14.29%

Price Target Trend (3-Month): Up-Flat +20.16%

Signal Timeframe: Quarterly-Monthly-Daily

Trend Bias: Up-Flat / Long-Medium

Indicators:
Short-term: Positive
Medium-term: Neutral
Long-term: Positive

Recommendation: Buy

Focus: (Dividend Income) & Capital Growth

Set up Notes:
• Investment Manager PNI was on a good track to recovery prior to the Covid slump, but with strong performance and forecasting they seem like a good opportunity here on fresh strength.
• Showing steady sales, earnings and profits growth since 2017, the company even managed to produce positive growth this year, with greater returns expected going forward.
• Breaking out of linear downtrend in Feb 2020 and rallying 35% in 3 weeks, before Covid pulled values down 60% by March – linear resistance has been rebroken since and it could be setting up another potential long-term uptrend here.
  • Support ($): 5.25, 5.00, 4.75, 4.50 & 4.00
  • Resistance ($): 5.50, 6.00, 6.50, 8.00 & clear.

Disclaimer

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