** Analysts at Citi are upbeat on Australian wealth platforms after the sector recorded its second-best September quarter for Platforms in ten years as incumbents see better flows
** Brokerage says September 2024 quarter saw A$7.3 billion ($4.48 billion) of net flow into the Australian Platform industry vs. -A$4.4 billion of outflows a year earlier
** Citi, however, slightly lowers earnings expectations for financial services platforms HUB24 and Netwealth
because of negative market movement in December
** Citi cuts HUB's PT by 2% to A$73.80, maintains 'neutral' rating
** Citi downgrades to 'sell' rating for NWL; says stock is over-valued compared with its growth potential
($1 = 1.6281 Australian dollars)
(Reporting by Roushni Nair in Bengaluru)
((Roushni.Nair@thomsonreuters.com;))
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