Australian data solutions provider Hub24 gains after Wilsons' PT hike, ratings upgrade

Hub24

08/04/2024 03:50

** Shares of Australia's Hub24  HUB.AX  rise as much as 2.5%
to A$42.67
    ** Analysts at Wilsons raise price target on the provider of
integrated platform and data solutions by 6% to A$45.32, upgrade
to "overweight"
    ** Brokerage expects co to have close to A$100 bln ($65.84
billion) in funds under administration over the next two years
    ** Wilsons raises near-term earnings expectations on Hub24
by 1-2% and raises gross inflow estimates
    ** Sees A$100.3 bln in funds under administration by end of
fiscal 2025
    ** Hub24 stock has risen 15.6% this year, as of last close

    ($1 = 1.5188 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))