Citi upbeat on Wisetech Global's future growth, hikes price target
02/10/2024 23:56
** Analysts at Citi upbeat on Australia's Wisetech WTC.AX ;
expect the firm to deliver strong growth over next few years
** Brokerage sees tech company's FY25 revenue to be A$1,311
million ($902.49 million), a 26% rise year-on-year
** Brokerage says headcount growth slowed down from 15% in
June 2024 to 8% currently, year-on-year
** Maintains "neutral" rating on WTC, lifts stock PT to
A$138/shr from A$90/shr
** Five of 16 analysts rate stock "buy" or higher, 11
"hold"; their median PT is A$116 – LSEG data
** Stock is up 79% YTD, as of last close
($1 = 1.4526 Australian dollars)
(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com;))