Aussie money manager Netwealth gains as UBS lifts PT

Netwealth

16/01/2024 23:41

** Shares of Australia's Netwealth Group  NWL.AX  rise 1.4% 
    ** Analysts at UBS raise Price Target on the wealth manager
to A$18.40 from A$16.20
    ** Brokerage says NWL is top pick among Aussie wealth
platforms given it clean organic growth profile coupled with
higher revenue margins and cash profitability
    ** UBS sees improved platform flows on co and retain "Buy"
rating
    ** Expects NWL to gather over A$36 billion ($23.71 billion)
in funds under administration over the next three years
    ** Stock rose 6.2% in 2023


($1 = 1.5186 Australian dollars)

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