These 2 ASX financial shares are predicted to rise more than 40%
The two money managers I'm looking at today have been out of favour for a while, which is reflected in some fairly significant share price weakness.
However, brokers think both will bounce back, despite an economic environment that is becoming increasingly challenging.
Let's see what they're saying.
MA Financial Group Ltd (ASX: MAF)
MA Financial operates a suite of financial businesses including corporate advisory, funds management and mortgages through its MA Money business.
The group recently reported strong numbers in its quarterly update, with assets under management up 18% year-on-year to $15.7 billion, and MA Money's loan book up 123% over the previous 12 months.
MA Financial said the positive momentum gave them confidence to predict that underlying earnings per share would be "materially higher" for the full year compared to 2025.
MA Financial Joint Chief Executive Officers Julian Biggins and Chris Wyke said:
The vast majority of MA Financial's business segments are performing strongly. Our operations in real estate private credit have recently proved challenging, impacted by the macro environment in residential construction and development in Australia. This segment of our business represents around 15% of our overall AUM, and significantly less as a percentage of our total earnings. However, we are pleased with the overall strong growth and performance of our diverse business activities and investment strategies. The majority of our asset management operations, notably, asset-backed private credit, operating real estate such as pubs and marinas and core real estate continue to perform strongly.
Jarden analysts said they had reduced their price target on the company on concerns around private credit and a lower earnings growth outlook for the near term.
But their $7.80 price target is still well above the $4.45 share price (at the time of writing).
If the target is achieved, the return would be 75%.
Hub24 Ltd (ASX: HUB)
Hub24 also recently updated the market, saying its funds under administration were up 15% on the same quarter last year to $168.6 billion.
Platform net inflows were $4 billion, down 23%, but the company said this was a good result in light of the challenging macroeconomic environment.
Hub24 said recent tax changes would drive people to seek more advice regarding their superannuation, which was expected to drive growth in this area over time.
Jarden analysts said that while it was a soft quarter, Hub24 continued to win market share, while the number of advisers on its books continued to grow.
Jarden has a price target of $96.20 on Hub24 compared to $67.07 at the time of writing.
If achieved, this would be a 43.4% return.
The post These 2 ASX financial shares are predicted to rise more than 40% appeared first on The Motley Fool Australia.
Motley Fool contributor Cameron England has positions in Hub24. 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 Hub24 and Ma Financial Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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