Global brokerage firm Citi has placed a 90-day "positive catalyst" call on 360 One WAM (formerly IIFL Wealth Management), citing expected upside surprises in net flows during the second half of the fiscal year. The firm has set a price target of ₹1,615 per share for the wealth and asset manager, implying an upside potential of 50% from Tuesday's closing levels.

Citi's optimistic view is largely predicated on an anticipated sharp recovery in net flows, which are crucial for the company's growth trajectory.

The brokerage noted that while core gross flows into both the wealth management and asset management verticals have remained strong over the last 2-3 quarters, the net flow figures were previously suppressed. The earlier weakness in net flows was attributed primarily to attrition-led ou

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