opinion on Steadfast (SDF)

I have received a buy rec from a broker on this stock SDF, and wondering your thoughts as a long term buy ?

A: Thanks for the question on Steadfast (SDF).

Certainly a stock that has done pretty well, and delivered on guidance. Trading near 52 week highs. According to FN Arena, consensus broker price target of $3.27 (range $2.90 to $3.90), about 2.5% lower than the last market price of $3.35. 1 buy, 2 neutral recommendations.

Trading on a multiple of 25.4x FY19 earnings and 23.1x FY20 earnings. Looks pretty fully priced for an insurance broker. Not for me.


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