Jefferies raises PT for Australia's Hub24 on upbeat update

Hub24

16/01/2024 21:33

** Analysts at Jefferies raise price target on Australian
investment platform Hub24  HUB.AX  to A$34.80 from A$32.10;
reaffirms "hold" rating 
    ** Brokerage estimates 1H24 underlying net profit after tax
of A$30.3 million($19.94 million), up 6% YoY
    ** Co posted on Tuesday 2Q24 platform net inflows of A$4.5
bln, up 60.4% YoY
    ** Five of 15 analysts rate the stock "buy" or higher, nine
"hold" and one "sell"; their median PT is A$36.10 – LSEG data
    ** Stock gained 35.4% in 2023


($1 = 1.5193 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))