BUZZ-Australia's Netwealth on track for best week in over two years; UBS hikes PT

Reuters
01-24
BUZZ-Australia's Netwealth on track for best week in over two years; UBS hikes PT

** Shares of Netwealth Group NWL.AX rise 1.2% to A$30.25, set for a fifth straight session of gains

** Shares of the fund administrator have risen 11.9% so far this week, set for best week since Nov. 7, 2022

** Co on Thursday reported funds under administration (FUA) net inflows of A$4.5 bln ($2.83 bln) for the Dec quarter, a 69.8% rise from a year earlier

** UBS hikes EPS forecast by 4.5% for FY26, citing stronger FUA, higher net flow outlook, and increased cash spreads

** Brokerage hikes PT to A$30.75 from A$28.00, maintains "Neutral" stance

** One of 16 analysts rate the stock 'strong buy', 11 "hold" and four "sell" or lower; their median PT is A$27.50 – LSEG data

** Stock rose 86.7% in 2024

($1 = 1.5911 Australian dollars)

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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