Jefferies picks Xero, Altium as go-to stocks on better earnings visibility

Altium

03/02/2022 21:59

** Jefferies picks tech companies Altium Ltd  ALU.AX  and
Xero Ltd  XRO.AX  as its go-to stocks due to better earnings
visibility, while maintaining that WiseTech Global Ltd  WTC.AX 
is still an expensive stock to buy
    ** Says rise in mobile app downloads are helping Xero's
growth despite challenges posed by Omicron variant    
    ** Maintains "buy" on Xero, but cuts PT to A$45 from A$50.26
    ** For Altium, brokerage says demand for PCB design software
recovering according to industry feedback, alongside launching
new products and partnerships
    ** Maintains "buy", but cuts PT to A$44.61 from A$48.83
    ** Jefferies says WiseTech is expensive due to lower
earnings visibility on account of lack of high-frequency
web-based data, although the logistics industry is booming,
however with no relation to co's revenue  
    ** Maintains "hold", but cuts PT to A$139.03 from A$159.41

 (Reporting by Archishma Iyer)
 ((Archishma.Iyer@thomsonreuters.com;))