0022 GMT - Australian wealth platform operator Hub24's strong operating momentum isn't enough to turn UBS analysts bullish on the stock. They acknowledge that the ASX-listed company's second-quarter net inflows were its largest ever and ahead of expectations, but point out in a note to clients that the stock is trading at a 20% premium to its five-year average price-to-earnings. This limited value appeal keeps them neutral on the stock. That said, their overall outlook for Hub24's fiscal second half remains strong. UBS lifts its target price 7.9% to A$75.50. Shares are up 4.2% at A$75.475. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 21, 2025 19:22 ET (00:22 GMT)
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