L1 GROUP LIMITED (L1G)
Share Price Analysis and Chart

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15/09/2026

2

Initiation of coverage with Accumulate

$1.25

5.49%

Ord Minnett is initiating coverage of L1 Group with an Accumulate rating and $1.25 target price.

The analyst points out the L1 Long Short Fund has consistently generated robust returns, up 44.5% in the year to August 2026 and 16.2% p.a. over the previous decade.

This strategy represents around 37% of the group FUM. The broker also indicated management has successfully slowed the rate of outflows from the Platinum funds and is expected to realise around $11m in cost synergies in FY27.

Balance sheet is robust with cash on hand of $176m and no debt.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 2.80 cents and EPS of 5.90 cents.
Ord Minnett forecasts a full year FY28 dividend of 4.20 cents and EPS of 6.90 cents.

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23/09/2026

1

Initiation of coverage with Buy

$1.41

18.99%

Canaccord Genuity initiates coverage with a Buy rating for L1 Group with a $1.41 target price, viewing the transformational reverse merger between L1 Capital and Platinum Asset Management as creating a near-$20bn funds under management powerhouse.

The analyst notes the flagship long/short strategies deliver a highly repeatable earnings stream, with the recently upsized $1.4bn L1 Capital Gold Fund poised to provide incremental performance fees.

Potential near-term catalysts include the fundraising progress of PXC Advisors, the launch of a balanced equities fund, and the introduction of new affiliate strategies.

At the end of FY26, the combined entity held over $19bn in funds under management, with the ongoing corporate goal being the stabilisation of the remaining $5bn from Platinum.

Canaccord Genuity derives the valuation from an equally weighted blend of a discounted cash flow model and a 20x price-to-earnings multiple applied to FY28 estimates to reflect the high quality and strong alignment of the earnings profile.

FORECAST
Canaccord Genuity forecasts a full year FY27 EPS of 5.48 cents.
Canaccord Genuity forecasts a full year FY28 EPS of 6.56 cents.