Category: Stock Market

Shares in EBR Systems Ltd (ASX: EBR) were trading higher on Friday after the company said it had implanted the first patient in a key clinical trial.

The company told the ASX in a statement that the first patient had been enrolled and implanted in the “totally leadless CRT” study being carried out at the Princess Alexandra Hospital in Brisbane.

Groundbreaking technology

EBR’s key technology is the Wireless Stimulation Endocardially (WiSE) technology, which was developed to eliminate the need for cardiac pacing leads.

The company said in its statement that such leads were “historically the major source of complications, effectiveness and reliability issues in cardiac rhythm disease management”.

It went on to say:

The initial product is designed to eliminate the need for coronary sinus leads to stimulate the left ventricle in heart failure patients requiring Cardiac Resynchronisation Therapy (CRT). Future products potentially address wireless endocardial stimulation for bradycardia and other non-cardiac indications.

The first implant procedure announced to the ASX on Friday was carried out the day before by electrophysiologist Dr Paul Gould.

The company said the new study would build on previous work and potentially open up a much larger addressable market.

Totally Leadless CRT, pairing EBR’s WiSE System with a leadless right ventricle pacemaker, has been previously published, and is already included in the FDA-approved labelling for patients with an existing leadless pacemaker who subsequently develop pacing-induced heart failure and require an upgrade to CRT. The TLC-AU study will build on this previous published experience by treating newly diagnosed heart failure patients requiring CRT. These de novo patients will receive a leadless pacemaker and the WiSE System. De novo patients account for around 75% of the CRT market, meaning this indication has the potential to significantly expand EBR’s total addressable market and establishing WiSE as a potential first-line option for patients requiring CRT.   

EBR president John McCutcheon said it was a significant achievement for the company.

He went on to say:

The first implant in the TLC-AU Study is a significant milestone for EBR, marking our entry into the much larger frontline CRT market. TLC-AU allows us to build on the FDA labelled upgrade indication and generate the evidence needed to position WiSE CRT as a fully leadless alternative for patients requiring resynchronisation therapy. As leadless pacing rapidly becomes standard of care, advancing a totally leadless CRT solution strengthens EBR’s leadership in the next major evolution of heart-failure treatment.

EBR shares were 3.3% higher in early trade at 93.5 cents. The shares have traded as high as $2.08 over the past year and currently are not far off their 12-month lows of 86 cents.

The company was valued at $407.3 million at the close of trade on Thursday.

The post Biotech company implants heart device in world first appeared first on The Motley Fool Australia.

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• Morgans thinks this ASX healthcare stock could double!
• Why Domino’s, DroneShield, EBR, and Lendlease shares are pushing higher today

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

For long-term investors, the best opportunities often come from stocks you can buy, hold, and comfortably ignore for years at a time.

These are businesses with sustainable competitive advantages, strong balance sheets, and exposure to structural trends that should continue playing out well into the 2030s.

With that in mind, if you are building a portfolio today with the intention of not touching it again until 2035, the two buy-rated Australian stocks named below could be worth considering. Here’s what analysts are recommending to clients:

NextDC Ltd (ASX: NXT)

Data is becoming the world’s most valuable resource, and NextDC sits right in the middle of that shift. As Australia’s leading data centre operator, the company provides the mission-critical digital infrastructure that powers cloud computing, artificial intelligence, video streaming, government services, and enterprise applications.

Demand for high-density, high-security data centres is rising rapidly, and NextDC has been investing heavily to expand its footprint across Sydney, Melbourne, Brisbane, and internationally. This includes the recently announced S7 data centre, which will be tenanted by ChatGPT’s owner OpenAI.

If you want exposure to digital infrastructure that is only becoming more essential, NextDC is a strong contender for a true long-term hold. Morgans is bullish and rates it as a buy with a $19.00 price target. This implies potential upside of 40% for investors over the next 12 months.

TechnologyOne Ltd (ASX: TNE)

Another Australian stock that could be a top buy and hold pick is TechnologyOne. Over the past decade, it has quietly become one of the ASX’s most consistent performers, driven by its transition to a sticky, high-margin software-as-a-service (SaaS) business model.

The company builds enterprise software for government, education, local councils, and large organisations. These are sectors that value stability, reliability, and long-term partnerships. Once a customer adopts TechnologyOne’s platform, they tend to stay for the long haul.

Recurring revenue continues to grow strongly, margins remain robust, and the company has barely scratched the surface of its international opportunity. With an exceptionally strong balance sheet and a talented management team, TechnologyOne is the kind of business you can put in a drawer and forget about for years.

By 2035, it is entirely possible the company will be far larger, more global, and still delivering the kind of steady, predictable growth investors love.

Morgan Stanley is positive on the company’s outlook. It has an overweight rating and $36.50 price target on its shares. This suggests that upside of over 30% is possible from current levels.

The post The best Australian stocks to buy today and not check again until 2035 appeared first on The Motley Fool Australia.

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• Buy Australian: ASX stocks positioned to beat global markets next year
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Motley Fool contributor James Mickleboro has positions in Nextdc and Technology One. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Technology One. The Motley Fool Australia has recommended Technology One. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Xero Ltd (ASX: XRO) shares are edging higher today.

Shares in the $19 billion S&P/ASX 200 Index (ASX: XJO) business and accounting software provider closed yesterday trading for $113.36. In morning trade on Friday, shares are changing hands for $113.57, up 0.2%.

For some context, the ASX 200 is up 0.8% at this same time.

As you may know, Xero shares have come under heavy selling pressure since the ASX 200 tech stock notched a new all-time closing high of $194.21 on 24 June.

But according to Catapult Wealth’s Blake Halligan, that sell-off looks to be short-sighted, with the outlook for growth in 2026 looking promising (courtesy of The Bull).

Should you buy Xero shares today?

“XRO is a global accounting software provider,” said Halligan, who has a buy rating on Xero shares.

“Average revenue per user was up 15% in the first half of (FY) 2026 when compared to the prior corresponding period. EBITDA was up 21%,” he said, citing the first reason the ASX 200 tech stock could be set for a strong rebound.

“Rolling out bank feed connections in the United States will be a tail wind moving forward,” he added.

And the third reason you might want to buy some Xero stock for Christmas is that following the past six months of selling, shares could be trading at a long-term bargain.

“In our view, the recent fall in the share price reflects a short-sighted assessment of revenue and subscriber growth rates,” Halligan said.

“The US payments opportunity is significant, and any signs of successful execution and acceleration in growth will drive a meaningful re-rate,” he concluded.

What’s happening with the company’s US expansion?

As Halligan mentions, Xero shares could garner significant longer-term support from the company’s growth ambitions in the world’s largest economy.

At Xero’s half-year results release on 13 November, the company stated:

In June, Xero announced it had agreed to acquire Melio, a leading US SMB bill pay platform that seamlessly enables customers to manage their cash flow by offering SMBs and their advisors easy-to-use accounts payable (A/P) workflows and a wide choice of payment methods.

That acquisition was completed in mid-October, which the company said now gives it an opportunity to accelerate integration and deliver value for its US customers sooner.

Management noted that Melio traded in line with expectations through the first half of FY 2026, achieving underlying revenue growth of 68% to NZ$183 million.

The post 3 reasons to buy Xero shares today appeared first on The Motley Fool Australia.

More reading

• Insiders are buying Xero and these ASX shares this month
• Opportunity knocks? Broker ratings on 4 ASX shares at 52-week lows
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• Buy, hold, sell: Medibank, Qantas, and Xero shares
• Stocks to target for a tech rebound in 2026

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Austal Ltd (ASX: ASB) share price is on watch after the company’s securities were temporarily paused on the ASX pending an announcement, with investors eager for clarity on the next steps.

What did Austal report?

• Trading in Austal shares has been paused by the ASX as of 12 December 2025
• No financial results or operational updates were provided in the announcement
• Investors are awaiting further information from the company
• No updates regarding dividends or forward guidance were included

What else do investors need to know?

The ASX has placed Austal shares into a temporary trading halt. This means investors won’t be able to buy or sell shares until a further announcement restores trading.

ASX trading halts are not uncommon and can happen for various reasons, including expected news or to maintain fair and orderly trading. Investors should keep an eye out for updates from Austal on the reason for the pause.

Austal share price snapshot

Over the past 12 months, Austal shares have risen 123%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Austal shares paused pending further announcement appeared first on The Motley Fool Australia.

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• 5 things to watch on the ASX 200 on Friday

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

I think it can be useful for investors to keep an eye on which shares have experienced meaningful insider buying.

That’s because insider buying is often regarded as a bullish indicator, as few people know a company and its intrinsic value better than its directors. If they are buying, it could be a sign that they are confident in the direction the company is heading and see value in its shares.

With that in mind, listed below are a few ASX shares that have reported meaningful insider buying recently. They are as follows:

Bendigo and Adelaide Bank Ltd (ASX: BEN)

A change of director’s interests notice reveals that this regional bank’s chair has been buying shares in December. According to the notice, independent chair, Vicki Carter, snapped up a total of 4,933 Bendigo and Adelaide Bank shares last week through an on-market trade on 4 December.

Carter paid an average of $10.13 per share, which equates to a total consideration of $49,971.29. This purchase boosted the chair’s holding to a total of 38,849 shares.

Bendigo and Adelaide Bank shares are down 21% over the past 12 months. The majority of this can be attributed to the release of the results of an investigation by Deloitte into suspicious activity.

The investigation, which was initiated by the bank, concluded that deficiencies existed regarding the bank’s approach to the identification, mitigation and management of money laundering (ML) and terrorism financing (TF) risk.

Chalice Mining Ltd (ASX: CHN)

Another change of director’s interests notice shows that one of this mineral exploration company’s non-executive directors has been buying shares this week.

On Wednesday 10 December, Richard Hacker paid a total of $99,566.34 to acquire 59,862 Chalice shares through an on-market trade. This represents an average of approximately $1.66 per share.

This lifted Hacker’s shareholding (indirect and direct) to over 1.3 million shares. He also has a large number of unlisted options, which are out of the money at present, and performance and retention rights.

Xero Ltd (ASX: XRO)

Finally, a non-executive director at Xero has taken advantage of recent share price weakness to load up on its shares.

A notice reveals that Dale Murray has bought 1,286 Xero shares through an on-market trade on 11 December. Murray paid an average of $115.30 per share, which represents a total consideration of $148,275.80.

This increased the non-executive director’s shareholding to a total of 2,719 shares.

The post Insiders are buying Xero and these ASX shares this month appeared first on The Motley Fool Australia.

More reading

• Opportunity knocks? Broker ratings on 4 ASX shares at 52-week lows
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• Down 20% since November, are Bendigo Bank shares now a buy?
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Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Xero. The Motley Fool Australia has positions in and has recommended Bendigo And Adelaide Bank and Xero. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The National Storage REIT (ASX: NSR) share price is in focus today after the company announced an estimated fully franked interim dividend of 6 cents per stapled security for the second half of 2025.

What did National Storage REIT report?

• Estimated fully franked interim dividend of 6 cents per stapled security for the period 1 July 2025 to 31 December 2025
• Dividend record date: 31 December 2025
• Dividend payment date: 20 February 2026
• Further dividend details to be provided in Appendix 3A.1 (estimate)
• Withdrawal of all previous earnings guidance in light of recent scheme announcement

What else do investors need to know?

National Storage REIT has withdrawn all prior guidance announcements following the scheme announcement, meaning investors should not rely on earlier outlook statements. The company advised that more detail on the estimated dividend will be released via an Appendix 3A.1 estimate.

National Storage continues as the largest self-storage provider in Australia and New Zealand, operating over 290 storage locations for both residential and commercial customers.

What’s next for National Storage REIT?

Investors can expect a more detailed dividend estimate once the company lodges its Appendix 3A.1. The withdrawal of guidance points to the uncertainty pending the outcome of the recent scheme announcement—shareholders may wish to keep an eye out for further updates.

The company will continue managing its large portfolio across Australia and New Zealand through the anticipated transition period, aiming to maintain stable service and performance.

National Storage REIT share price snapshot

Over the past 12 months, National Storage REIT shares have risen 18%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post National Storage REIT declares estimated dividend and updates investors appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

When it comes to infrastructure shares, stability and a long-term focus are often what investors like to see, and Dalrymple Bay Infrastructure Holdings (ASX: DBI) has that in spades.

The company has a 99 year lease over the Dalrymple Bay Terminal in Queensland, which it has expanded in seven expansion plans over the years to a capacity of 84.2 million tonnes of coal exports from the Bowen Basin per annum.

 As the company says on its website:

DBT services mines in the Bowen Basin, a 60,000 square km region in central Queensland that is the world’s largest metallurgical coal export region. Metallurgical coal is used for steel production. DBT supports mines in the Bowen Basin to provide a reliable supply of metallurgical coal to steel producers in export markets. DBT is the lowest cost multi-user export pathway for mines located in the central area of the Bowen Basin on average.

Debt refinanced on better terms

The company earlier this week announced it had refinanced $1.07 billion of its debt, using the money to pay off older debt facilities and close some down entirely.

Dalrymple Bay said this week:

The decision to implement the refinancing is part of Dalrymple Bay’s proactive approach to managing its debt portfolio. The reduced debt pricing currently available to Dalrymple Bay in the market created the opportunity to refinance the more expensive and less flexible USPP notes.

The company said the refinancing would deliver reduced interest costs of about $75 million out to 2030.

Further share price upside

The team at Macquarie have run the ruler over the new debt package and like what they see, with an outperform rating on Dalrymple Bay shares.

The Macquarie analysts said they calculated the cash flow impact of the refinancing to be about $15 million per year over the next five years, potentially adding 3 cents to the company’s dividend.

The analysts had this to say about the company:

We think Dalrymple Bay Infrastructure is a unique investment with dividend growth of 5% and a valuation EV/EBITDA multiple of 13x, which is below comparable port multiples.

Macquarie has a 12-month price target of $5.33 on Dalrymple Bay shares, compared with the closing price of $4.54 on Thursday.

Once dividends are factored in, this would equate to a total shareholder return of 23% over a one year period if that share price were achieved.

Dalrymple Bay was valued at $2.4 billion at the close of trade on Thursday.

The post Trading near its record high, Macquarie thinks this infrastructure play has even further to go appeared first on The Motley Fool Australia.

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Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The Nickel Industries Ltd (ASX: NIC) share price is in focus today after news the company has received approval to lift its 2025 nickel ore sales quota to 10.5 million wet metric tonnes (wmt), with immediate recommencement of sales and growth plans for 2026.

What did Nickel Industries report?

• 2025 RKAB (nickel ore quota) increased from 9 million wmt to 10.5 million wmt
• Immediate restart of nickel ore sales from the Hengjaya Mine
• Approval of 2026 RKAB expected soon, targeting 19 million wmt per annum
• Five-year environmental permit (AMDAL) secured, enabling market-leading tailings management
• Innovative in-pit tailings storage and limonite slurry pipeline to ENC HPAL

What else do investors need to know?

The company’s environmental permit allows for Indonesia’s first in-pit tailings storage, with a dedicated pipeline between the ENC High-Pressure Acid Leach (HPAL) plant and the Hengjaya Mine. This approach is designed to improve traceability for end users and reduce environmental impact.

Approval of the five-year AMDAL not only supports higher production for 2025 but also underpins the company’s application for a substantial increase to the nickel ore quota in 2026. Sales of stockpiled ore to the Indonesia Morowali Industrial Park (IMIP) have already recommenced, boosting near-term revenue potential.

What did Nickel Industries management say?

Justin Werner, Managing Director said:

We are pleased to announce the approval of an increase to our 2025 RKAB, allowing mine sales to recommence immediately. The AMDAL supporting the 2025 RKAB is not only essential for this year’s operations but lays the foundation for a further RKAB increase in 2026.

The AMDAL approval is the first of its kind to permit the use of a pipeline to return HPAL tailings to the mine for storage, re-contouring and revegetation. This innovation will significantly contribute to our goal of positioning ENC as the lowest carbon and cost intensive HPAL globally, producing diversified class 1 and intermediary nickel products.

We thank all of the Ministry of Environment staff who worked closely with the Hengjaya Mine technical team to ensure a detailed and comprehensive AMDAL was delivered.

What’s next for Nickel Industries?

Nickel Industries is awaiting final approval for the 2026 RKAB, which would increase its sales quota to 19 million wmt. The company is also focused on commissioning the Excelsior Nickel Cobalt (ENC) project, a next-generation HPAL plant expected to produce around 72,000 tonnes of nickel metal annually.

As Nickel Industries transitions towards supplying the electric vehicle battery market, the business continues to prioritise reducing its carbon footprint and costs, with new technologies and environmental initiatives leading the way.

Nickel Industries share price snapshot

Over the past 12 months, Nickel Industries shares have declined 17%, trailing the S&P/ASX 200 Index (ASX: XJO) which has risen 3% over the same period.

View Original Announcement

The post Nickel Industries lifts 2025 nickel sales and receives green light for growth appeared first on The Motley Fool Australia.

More reading

• National Storage REIT declares estimated dividend and updates investors
• Dexus launches new fund and lifts DREP2 equity in latest earnings update
• Scentre Group introduces new joint venture partner for Westfield Chermside
• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial summary of the company announcement. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

2025 has been a spectacular year for a range of commodities.

For example, the gold price has jumped by 63% since early January to more than US$4,250 per ounce.

Overall, the precious metal has notched up fresh all-time highs on dozens of occasions throughout the year.  

Not surprisingly, the gold price has also comfortably outpaced the broader market.

During the same period, the All Ordinaries Index (ASX: XAO) has risen by 4.87%.

But gold isn’t the only metal breaking new ground in 2025.

Both silver and copper hit record prices in recent days, with silver even eclipsing gold’s performance.

To elaborate, the silver price has skyrocketed by approximately 120% since the start of the year, currently trading above US$63 per ounce.

The copper price also reached a historic milestone on Thursday, surpassing US$11,800 per tonne for the first time on the London Metal Exchange.

The red metal has now risen by 35% just this year.

These stellar price runs have helped propel two ASX-listed exchange-traded funds (ETFs) to their own all-time highs.

Modern-day metals

Silver has long been regarded as a safe-haven asset, commonly used in jewellery, coins, or as bullion stored in vaults.

However, the metal’s role is rapidly expanding.

Demand from solar panel manufacturers has more than doubled since 2016, and its use in electronics has also grown significantly.

These evolving applications are reshaping the metal’s supply and demand dynamics and helping to drive the silver price higher.

Meanwhile, copper has long been seen as a barometer of economic health.

It has even been nicknamed ‘Dr Copper’ in some financial circles, due to the metal’s perceived ability to predict the health and turning points of the global economy. 

Traditionally, copper boasts mass industrial applications.

But the metal is also becoming increasingly important to the world’s energy transition, with heavy use in electric vehicles and charging infrastructure.

It is also a key ingredient in AI data centres thanks to its conductivity and efficiency in power distribution and cooling.

These applications point towards strong long-term demand and help support an upward trajectory for the copper price.

Record-breaking ASX ETFs

Investors looking to capture the momentum in these booming metals have an array of options.

Amongst others, specialised ASX ETFs provide one practical avenue.

Firstly, the Global X Physical Silver Structured ETF (ASX: ETPMAG) has been available for Aussie investors since 2009.

This ASX ETF is designed to generate returns that mirror the silver price in Australian dollars, minus management fees. 

It hit an all-time high this week, ending Thursday at $86.20 per share.

Overall, shares in this ASX ETF have now risen by about 96% since the start of the year.

Meanwhile, the Global X Copper Miners AUD ETF (ASX: WIRE) also reached a new peak in intraday trading on Thursday.

This ASX ETF has been providing access to a basket of the world’s leading copper miners since its founding in late 2022.

The fund’s holdings include positions in some leading ASX 200 mining stocks, including BHP Group Ltd (ASX: BHP) and Sandfire Resources Ltd (ASX: SFR).

Shares in this ASX ETF have now surged by 62% since the beginning of January, closing yesterday at $20.30 each.

The post These 2 ASX ETFs are booming as the silver and copper price smash new records appeared first on The Motley Fool Australia.

More reading

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Motley Fool contributor Bart Bogacz has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Netwealth Group Ltd (ASX: NWL) shares have been having a tough time in recent months.

So much so, since hitting a record high of $38.30 in August, the ASX 200 stock has lost 30% of its value.

While this is disappointing for shareholders, Bell Potter thinks that Christmas has come early for the rest of us.

What is the broker saying about this ASX 200 stock?

Bell Potter highlights that the investment platform provider’s most recent funds under administration (FUA) update pointed to strong net flows.

In light of this, the broker believes that its guidance for FY 2026 is de-risked, especially with its channel checks indicating good flow intention. It said:

NWL provided updated FUA of $123.8bn at 10’Nov; parameters were undisclosed but statements point to strong net flows. The company has indicated FY26 net flows are likely to land around FY25 and consensus reflects that. We think the run rate implied from the update is an improvement and de-risks the guidance, albeit on an early read, and take comfort from growing account additions and strong adviser growth in 2H25. Consensus net flow forecasts haven’t really moved since Feb’25, and the last big revision was to the downside. Our channel checks indicate good flow intention.

Big potential returns

In response to the ASX 200 stock’s decline since August, Bell Potter feels that a very attractive buying opportunity has opened up for investors.

In a note titled “Christmas comes early”, the broker revealed that it has upgraded Netwealth’s shares to a buy rating (from hold) with an improved price target of $31.50 (from $30.00).

Based on its current share price of $26.75, this implies potential upside of approximately 18% for investors over the next 12 months.

In addition, the broker expects a dividend yield of 1.7% in FY 2026, which lifts the total potential return to almost 20%.

Commenting on its upgrade, Bell Potter said:

Upgrade to Buy. First Guardian is an overhang, but if net flows are maintained then the company is on-track to beating guidance and maybe consensus. Against this backdrop there continues to be noise – KKR is looking to exit CFS and Macquarie has disrupted its flows – so we view FY26 as a good setup and upgrade based on valuation, where NWL has averaged an EV/EBITDA multiple of 33x. The last traded price implies 29x our blended FY26-27 estimates.

NWL has continued to build platform functionality with additional managed account options, a new individual HIN offering and expanded bond access through the trading desk. This should increase revenue share, and we can see a pathway to the usual +20% revenue growth story that historically has attracted value investors around these levels.

The post ‘Christmas comes early’: Why this ASX 200 stock was just upgraded appeared first on The Motley Fool Australia.

More reading

• 5 things to watch on the ASX 200 on Friday
• Here are the top 10 ASX 200 shares today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Netwealth Group. The Motley Fool Australia has positions in and has recommended Netwealth Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.