Citi raises earnings estimates for Australia's Hub24 on positive update

Hub24

15/01/2024 23:16

** Citi says Hub24  HUB.AX  is preferred stock among
Australian small-cap wealth platforms
    ** Shares of Hub24, which runs a platform that offers
advisers a range of investment options, are down 0.2% at A$36.64
    ** Co says total funds under administration of A$91.2
billion ($60.73 billion) as of Dec. 31, up 25%
    ** Brokerage raises net profit after tax estimates for
FY24-FY26 in the range of 3% to 4%
    ** Brokerage maintains rating at "buy" and price target at
A$42.20
    ** Six of 15 analysts rate the stock "buy" or higher, eight
"hold" and 1 "sell"; their median PT is A$35.30 – LSEG data
    ** Stock gained ~35% in 2023


($1 = 1.5017 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru; Editing by Lisa
Shumaker)
 ((Sherin.Sunny@thomsonreuters.com))