Jarden upgrades Netwealth to 'neutral' on flow outlook
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The news: Jarden has lifted its rating on Netwealth, after shares in the investment platform soared on Thursday on the back of its March quarter update.
The numbers: Jarden upgraded Netwealth from 'underweight' to 'neutral' and trimmed its target price from $24.95 to $24.30.
Netwealth shares surged 16.6% to $26.36 on Thursday after the company reported a 29% rise in funds under administration for the third quarter.
The context: Jarden analysts said that while Netwealth's FUA came in "slight below expectations", the company appears to be increasingly confident in its flow outlook.
Netwealth has extended its net flows guidance to fiscal 2026 for the first time, they noted, and its revenue margin is benefiting from higher trading activity.
The source: Jarden research
