Credit Suisse observes specialist platforms continue to gain share with Netwealth ((NWL)) and Hub24 also likely to benefit further amid significant disruption in the industry over the next three years.
This will stem from sale processes, de-mergers and integrations at large institutional platforms, as well as the ban on grandfathered commissions which came into effect on January 1 2021.
Outperform rating and $31.50 target maintained.
Sector: Diversified Financials.
Target price is $31.50.Current Price is $26.09. Difference: $5.41 – (brackets indicate current price is over target). If HUB meets the Credit Suisse target it will return approximately 17% (excluding dividends, fees and charges – negative figures indicate an expected loss).
