After an aggressive 38% pullback during the volatile April period, investment platform provider NWL has demonstrated itself to be a high-beta top performer in the sector, advancing 17% year-to-date. However, like many top performers, it’s getting rich from a valuation perspective, hence we cannot see it outperforming the index into Christmas, but it’s still likely to trade with an upside bias after delivering a solid quarterly update in April which helped ignite the stock’s aggressive recovery – NWL is a quasi-play on the ASX which MM is bullish through the 2H of 2025, though we hold it’s main rival HUB24 (HUB) in the Active Growth Portfolio.
- We can see NWL pushing above $35, but the easy money is in the rear view mirror.
MM is cautiously bullish on NWL above $33
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