Netwealth Shakes Bear Loose After Stronger 2Q -- Market Talk

Dow Jones

2025/01/23

0024 GMT - Netwealth shakes loose its bear at Citi on a stronger-than-expected second quarter. Analyst Siraj Ahmed raises his recommendation on the Australian wealth manager to neutral from sell, telling clients in a note that net custodial inflows of A$4.4 billion were 19% ahead of his forecast. On an underlying basis, flows were 5% stronger than he had anticipated. Ahmed raises his net flow forecasts, helping drive Ebitda forecast increases of 2% for fiscal 2025, 5% for fiscal 2026, and 6% for fiscal 2027. Citi lifts its target price by 6.2% to A$30.70. Shares are up 4.0% at A$30.58. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

January 22, 2025 19:24 ET (00:24 GMT)

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(stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 22, 2025 19:24 ET (00:24 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7062","symbol_name":"资产管理与托管银行","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2505608963","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2505608963","pubTimestamp":1737591840,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0024 GMT - Netwealth shakes loose its bear at Citi on a stronger-than-expected second quarter. 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Analyst Siraj Ahmed raises his recommendation on the Australian wealth manager to neutral from sell, telling clients in a note that net custodial inflows of A$4.4 billion were 19% ahead of his forecast. On an underlying basis, flows were 5% stronger than he had anticipated. Ahmed raises his net flow forecasts, helping drive Ebitda forecast increases of 2% for fiscal 2025, 5% for fiscal 2026, and 6% for fiscal 2027. Citi lifts its target price by 6.2% to A$30.70. Shares are up 4.0% at A$30.58. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 22, 2025 19:24 ET (00:24 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}