Australia's Insignia Financial rises as Morningstar favours CC Capital's acquisition proposal

Shares of Australia's Insignia Financial IFL.AX rise as much as 0.2% to A$4.760

*Analysts at Morningstar recommend IFL shareholders vote in favour of proposed acquisition by CC Capital Partners at upcoming scheme meeting on April 13

Morningstar keeps fair value estimate at A$4.80 per share

Investment research firm says deal provides shareholders with immediate cash at a compelling premium, removing exposure to structural and execution risks

Insignia's board unanimously recommends the scheme, in absence of superior proposal

Three of four analysts rate the stock "hold" and one "sell" or lower; their median PT is A$4.80, according to data compiled by LSEG

Stock has risen 4.2% this year, as of last close