MM likes this investor platform but as we’ve all learnt through 2022 we must continue to ask what’s the fair price for growth – HUB remains a great business growing FUA faster than the competition while growing margins. The first quarter of 2022 saw inflows of $2.6bn up 36% year on year which is needed to justify an Est. P/E valuation of 57.9x for 2022 i.e. it’s hard to envisage HUB roaring above $25 in today’s interest rate environment.
- MM will consider taking profit on HUB around the $25 area – the average price of the last 18 months.
MM is bullish HUB short-term initially targeting the $25 area
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