Australia's Netwealth gains as Wilsons hikes PT

Netwealth

08/04/2024 04:06

** Shares of Australia's Netwealth Group  NWL.AX  rise as
much as 1.7% to A$20.5 
    ** Analysts at Wilsons' raise PT on the wealth management
platform provider by 7% to A$22.03
    ** Brokerage says the next 12-24 months will be
"particularly healthy" for co as incumbent peers enact forced
migrations from their own legacy platforms
    ** Wilsons sees Q3FY24 gross inflows of A$5.6 bln ($3.69
billion), net inflows of A$3.1 bln and funds under
administration at A$83.1 bln 
    ** Stock has risen 30.9% this year, as of last close 


($1 = 1.5186 Australian dollars)

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