0220 GMT - Hub24's investor day boosts Citi analyst Siraj Ahmed's confidence on the wealth-management platform provider's long-term outlook. Ahmed notes that the Australian company's focus on expanding its addressable market and enhancing advisors' efficiency remains broadly unchanged from a year ago. He raises his Ebitda forecasts for the three years through fiscal 2027 by 3-5%, reflecting stronger flows, market share gains and funds-under-management upgrades. However, he raises his target price by 33% to A$75.50, driven by higher peer multiples and a valuation roll forward by a year. Citi maintains a neutral raiting on the stock, which is down 1.1% at A$74.47. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 01, 2024 21:20 ET (02:20 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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