Could value finally be emerging for the embattled AMP (ASX:AMP) share price?
There are signs of value emerging in the beaten down AMP Limited (ASX: AMP) share price, but you’d be hard pressed to find a broker who would recommend the ASX share as a buy.
The AMP share price is hovering at record lows and the sum of its parts are now greater than its market value.
That’s the view of JPMorgan, which put a 12-month price target of $1.35 on the embattled ASX wealth manager.
Sum-of-parts worth more than the AMP share price
This implies a close to 20% upside for the AMP share price and the broker noted other positives for this ASX underperformer.
“There is significant downside baked into the market valuation of AMP. Wealth Management arguably has virtually no ascribed value assuming reasonable multiples for…