Netwealth, Hub24 Seen as Value by Early Bull -- Market Talk

Dow Jones

Apr 09

0502 GMT - Citi sees good value in both Hub24 and Netwealth following the selloff in shares of both Australian wealth platforms. Analyst Siraj Ahmed acknowledges that his decision to raise the recommendation on both companies to buy from neutral could be a little early given the potential for further market weakness and downgrades in funds under administration. However, he sees fees generated by clients' higher cash balances softening the revenue impact of any softness. He tells clients in a note that he expects structural growth to continue. Citi cuts its target price on Netwealth by 14% to A$26.50 and Hub24 by 16% to A$71.50. Netwealth is down 1.4% at A$22.80; Hub24 falls 3.6% to A$57.11. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 09, 2025 01:03 ET (05:03 GMT)

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Analyst Siraj Ahmed acknowledges that his decision to raise the recommendation on both companies to buy from neutral could be a little early given the potential for further market weakness and downgrades in funds under administration. However, he sees fees generated by clients' higher cash balances softening the revenue impact of any softness. He tells clients in a note that he expects structural growth to continue. Citi cuts its target price on Netwealth by 14% to A$26.50 and Hub24 by 16% to A$71.50. Netwealth is down 1.4% at A$22.80; Hub24 falls 3.6% to A$57.11. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 09, 2025 01:03 ET (05:03 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Netwealth, Hub24 Seen as Value by Early Bull -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNetwealth, Hub24 Seen as Value by Early Bull -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-04-09 13:03</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0502 GMT - Citi sees good value in both Hub24 and Netwealth following the selloff in shares of both Australian wealth platforms. Analyst Siraj Ahmed acknowledges that his decision to raise the recommendation on both companies to buy from neutral could be a little early given the potential for further market weakness and downgrades in funds under administration. However, he sees fees generated by clients' higher cash balances softening the revenue impact of any softness. He tells clients in a note that he expects structural growth to continue. Citi cuts its target price on Netwealth by 14% to A$26.50 and Hub24 by 16% to A$71.50. Netwealth is down 1.4% at A$22.80; Hub24 falls 3.6% to A$57.11. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  April 09, 2025 01:03 ET (05:03 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NWL.AU","symbol_name":"NETWEALTH GROUP LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2526807450","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2526807450","pubTimestamp":1744174980,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0502 GMT - Citi sees good value in both Hub24 and Netwealth following the selloff in shares of both Australian wealth platforms. 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","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"NWL.AU":"NETWEALTH GROUP LTD","HUB.AU":"HUB24 LTD","BK7062":"资产管理与托管银行","BK7054":"投资银行业与经纪业"},"translate_title":"Netwealth、Hub24被早期牛市视为价值——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NWL.AU":0.9,"HUB.AU":0.9},"content_text":"0502 GMT - Citi sees good value in both Hub24 and Netwealth following the selloff in shares of both Australian wealth platforms. Analyst Siraj Ahmed acknowledges that his decision to raise the recommendation on both companies to buy from neutral could be a little early given the potential for further market weakness and downgrades in funds under administration. However, he sees fees generated by clients' higher cash balances softening the revenue impact of any softness. He tells clients in a note that he expects structural growth to continue. Citi cuts its target price on Netwealth by 14% to A$26.50 and Hub24 by 16% to A$71.50. Netwealth is down 1.4% at A$22.80; Hub24 falls 3.6% to A$57.11. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  April 09, 2025 01:03 ET (05:03 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}