2253 GMT - Australian wealth platform operator Hub24's 2Q was strong, but Jefferies thinks the stock's lofty valuation means it cannot afford to stumble. Hub24 reported a record A$5.5 billion in quarterly net inflows, around 10% higher than consensus hopes. "With Hub24 trading (at) 62x FY 2025 price-to-earnings and consensus ahead of Hub24's FY 2026 funds under administration target, we believe there is no room for an earnings miss," says analyst Simon Fitzgerald. Jefferies raises its EPS forecasts by 3-6% in FY 2025-2026, but retains an underperform call on the stock. Hub24 ended Tuesday at A$72.43. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
January 21, 2025 17:53 ET (22:53 GMT)
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