2300 GMT - Netwealth shares are likely to get a boost from the Australian wealth manager's better-than-expected second quarter, E&P analyst Olivier Coulon reckons. He tells clients in a note that Netwealth's net inflows of A$4.47 billion were well ahead of his A$3.87 forecast, and 2.2% ahead on an underlying basis. He thinks that the company's decision to increase the cash fee on its pooled cash account by 15 basis points is a material positive, so long as it doesn't affect inflows or drive more efficient cash management on the platform. It would lift revenue on the current funds composition by A$8.4 million, Coulon adds. E&P has a neutral rating and A$25.00 target price on the stock, which is at A$29.41 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 22, 2025 18:00 ET (23:00 GMT)
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