Australia's Netwealth Group gains as MS upgrades stock on growth potential

Netwealth

14/04/2025 03:58

** Shares of Netwealth Group NWL.AX rise as much as 1.6% to A$25.860

** Analysts at Morgan Stanley upgrade NWL rating to "overweight" from "equal-weight", citing ongoing market share gains for independent specialist platform providers and strong financial performance of co

** Brokerage, however, trims the price target to A$29.75 from A$31.25, and reduces EPS forecasts by ~1% for FY25-27E due to negative market movements & higher costs

** Brokerage observes stock has dropped 21% vs the index losing 11% from recent highs and views this as an opportunity to invest in a company as they expect it to grow steadily over time

** Analysts on average rate the stock "hold" or above; median price target at A$28.20 - LSEG data

** Stock down ~10.5% YTD, including current session's moves

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com;))