Perpetual commotion

Citigroup analyst Nigel Pittaway says the fund manager’s shares have peaked and will fall slightly over the coming year.

Investors should sell their shares in Perpetual, which has soared 81% in the last 12 months, says Citigroup’s Nigel Pittaway.

Pittaway predicts the stock will fall to $38 in a year. At 1300 AEST Perpetual shares were down 35 cents, or 0.8%, to $41.18.

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