Jefferies, Citi raise price target on HUB24's higher funds under administration

Hub24

16/07/2024 19:46

** Analysts at Jefferies raise price target on Australia's
HUB24  HUB.AX  to A$42.35 from A$41.00 on co's higher funds
under administration (FuA) update
    ** Brokerage Citi raises PT to A$47.00 from A$46.40 but
maintains "neutral" rating
    ** Investment services provider says total FuA were A$104.7
bln ($70.46 bln) as at June 30, up 30% from PCP
    ** HUB24 says qtrly platform net inflows were 138% higher at
A$5 bln
    ** Citi upgrades FY25 net flow forecast by 11% to A$14.6 bln
    ** Jefferies revises EPS for FY25 & FY26 of 1% to 2% on FuA
update; retains "hold" rating
    ** Six out of 17 analysts rate the stock "buy" or higher, 10
"hold" and one "sell" or lower; their median PT is A$43.73 –
LSEG data
    ** Stock has risen 29.2% YTD, as of last close

($1 = 1.4859 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)
 ((Roshan.Thomas@thomsonreuters.com))