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Investing.com - Bernstein SocGen Group initiated coverage on 360 ONE WAM Ltd (360ONE:IN) with an Outperform rating and a price target of INR1,410.00 on Wednesday.
The wealth and alternatives asset management company is expanding beyond top cities into the large high-net-worth individual (HNI (NYSE:HNI)) market segment, according to Bernstein’s analysis.
Bernstein noted that 360 ONE WAM is transitioning to become a full-stack wealth manager, supported by strategic acquisitions and a partnership with UBS.
The research firm views these strategic moves as structurally positive for the company’s growth trajectory in the wealth management sector.
Bernstein projects approximately 20% pre-tax profit growth for 360 ONE WAM, with return on equity expected to reach around 20% by fiscal year 2028, despite potential drag from equity infusion and issuance.
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