0045 GMT - The pullback in Netwealth's share price creates an opportunity for investors to benefit from structural tailwinds, according to the wealth platform's new bulls. Morgan Stanley analysts raise their recommendation on the stock to overweight from equal-weight, telling clients in a note that their long-term thesis remains intact despite the recent sell-off. They expect Netwealth to keep gaining market share as advisers migrate from incumbent platforms, and flag the Australian company's capital-light operating model and high cash-flow conversion. MS trims its target price 4.8% to A$29.75. Shares are up 0.6% at A$25.59. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 13, 2025 20:45 ET (00:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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