0349 GMT - Netwealth's bull at Citi warns that analysts might be setting their fiscal 2026 earnings-margin expectations a bit too high. Analyst Siraj Ahmed cautions that the one negative in the Australian wealth platform's 3Q update was the potential for higher annual costs. He writes in a note that the costs are discretionary and can be managed down if necessary, but he nonetheless sees some risk to analysts' margin expectations. He raises his cost-growth forecast and expects Ebitda margin to be flat at about 50%, compared with an average analyst forecast of 52%. He maintains his buy rating on the stock after Netwealth beat his net-custodial-flow forecast by 3%. Citi lifts its target price by 3.0% to A$27.30. Shares are up 13% at A$25.47. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 23:49 ET (03:49 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.