0410 GMT - Wilsons' analysts maintain a bullish view on Praemium, noting that the Australian wealth manager's 1Q update supports expectations of operating leverage in fiscal 2025. The company is likely to benefit from price increases and an end to outsized outflows from the acquired Powerwrap business, the analysts say. They add that easing group outflows suggest underlying flows have turned positive and that growth in funds under administration looks healthy. Wilsons holds an overweight rating on the stock, which is up 0.4% at A$0.6375. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 23, 2024 00:10 ET (04:10 GMT)
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