NWL – Citi rates the stock as Neutral
Neutral rating retained as Citi continues to struggle with the valuation, while the price target climbs to $16.40 (up from $15.95).
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Netwealth Group Limited
Netwealth was created with an entrepreneurial spirit to challenge the conventions of Australia’s financial services.
We are a technology company, a superannuation fund, an administration business. Above all we exist to inspire people to see wealth differently and discover a brighter future.
Founded in 1999, Netwealth is one of the fastest growing wealth management businesses in Australia. We are rated No.1 by our customers for providing exceptional customer service and analysts continually rate our technology as best in class.
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News
NWL – Credit Suisse rates the stock as Outperform
Outperform rating and $17.80 target maintained.
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NWL – Credit Suisse rates the stock as Neutral
Netwealth Group has advised the rate it was receiving on cash will be terminated in 12 months. Credit Suisse retains its Neutral rating with the target falling to $14.40 from $17.50.
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NWL – Morgans rates the stock as Hold
ANZ Bank has provided 12 months' notice to terminate the current pooled cash deposit arrangements to both Netwealth Group and HUB24 ((HUB). Hold rating and target falls to $15.40 from $16.20.
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NWL – UBS rates the stock as Neutral
Netwealth has announced it will absorb the impact of the cut to the official cash rate, equivalent to a cut of around -10%to pre-tax profit on a full-year basis. This is in line with UBS forecasts.
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NWL – UBS rates the stock as Sell
Netwealth reported a record $2.9bn net inflows in the Dec Q, made up of $1.1bn from ANZ Private and a doubling of underlying flows from six months ago. Add in a strong market to kick off 2020 and the company has raised its funds under management outlook. Target rises to $7.65 from $7.50.
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NWL – Citi rates the stock as Neutral
FY19 results were solid, Citi assesses. Net flows are expected to pick up in FY20, driven by market share gains as well as an improvement in adviser activity levels.
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Headwinds Build For Insurers And Wealth Managers
As FY20 unfolds, falling global bond yields will produce headwinds for the general insurance sector while wealth managers could enjoy a short-term uplift to recurring revenue.
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Royal Commission Builds Solid Platform For Independent Wealth Providers
If there’s a clear winner from the murky swamp of revelations uncovered by the banking royal commission, it’s the provider of independent administration and investment platforms for the financial advisory industry.
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