Citi sees strong trading volumes to aid Australian wealth platform cos' revenues; shares up

Hub24

08/01/2026 02:49

** Shares of Netwealth Group NWL.AX up as much as 2.4% to A$26.24, their highest level since December 29; peer HUB24 HUB.AX up 2.3%
** Citi sees strong trading volumes to support revenue margins for wealth platform cos in 1H26
** Australian bourse operator ASX ASX.AX said on Wednesday cash market value traded was up 32% yoy in December
** Citi says ASX's December performance a positive for NWL, HUB; says transaction fees represent ~15% of NWL's revenue, 'likely a bit higher' for HUB
** Brokerage retains A$101.50 price target for HUB, A$29.80 PT for NWL
** 16 analysts on avg "Hold" rated for HUB, 15 "Buy" rated for NWL, as per LSEG-compiled data

** NWL fell 10.7% in 2025, HUB gained 38.3% in same period

 (Reporting by Nichiket Sunil in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com))