Citi analysts predict Solid Year 2024 for Australia’s Netwealth Group (ASX:NWL), following the wealth manager’s net profit after tax, with a growth of 20% in Fiscal Year 2023.

The brokerage has increased its stock price target from A$14/share to A$14.45/share, maintaining its neutral position.

Citi anticipates the company will see about 29% EPS growth in Fiscal Year 2024.

The company’s net flows are expected to rise and margins are projected to expand owing to the slowing growth in operating expenses.

Among the 14 analysts, four rate the stock as buy or higher, six hold it, and four rate it as sell or lower; the median price target is A$14.25 according to Refinitiv.

The stock saw an increase of 19.9% this year, as of the previous closing.

Netwealth Group is a well-known wealth manager based in Australia.