Jefferies upbeat on Aussie Netwealth's managed funds growth; raises PT

Netwealth

02/12/2024 19:51

** Brokerage firm Jefferies places investment manager Netwealth  NWL.AX  on track to meet
FY25 consensus expectations of A$110 billion ($71.15 billion) in funds under administration
(FUA)
    ** Co reported about A$100 bln in FUA as of Nov. 28
    ** Jefferies increases price target to A$23.90 from A$21.16
    ** "We revise our EPS estimates +2% across the forecast period," brokerage added
    ** Two of 16 analysts rate the stock "buy" or higher, 10 "hold" and four "sell" or lower;
their median PT is A$25.20 — LSEG
    ** NWL up 89.9% YTD, as of last close

($1 = 1.5461 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com))