Perpetual (ASX:PPT) saw its price target cut by Citi analysts from A$30 to A$24.80.

The analysts also downgraded their stock rating from ‘buy’ to ‘neutral’, primarily due to decreased earnings from recently acquired Pendal (the main contributor to the company’s earnings).

Skepticism remains regarding a potential turnaround in Perpetual’s stock value being imminent.

The financial services firm’s FY25 EPS expectations faced a further reduction of 25% by Citi.

A majority (nine out of eleven) analysts recommend a ‘buy’ or higher for Perpetual, with two recommending a ‘hold’.

The consensus price target stands at A$29.75 according to Refinitiv data.

As a result of these developments, Perpetual shares fell by 5.4%, hitting their lowest since April 5.

This year, the total decline in stock value for Perpetual has been 4% as of the last closing.

Perpetual (ASX:PPT) is a global financial services company offering a range of services and products to individuals and corporate clients.