Australia's Xero climbs most in three weeks after Citi backs higher prices
Yesterday 04:30
BUZZ-Australia's Xero climbs most in three weeks after Citi backs higher prices ** Xero's shares XRO.AX rise as much as 8.9% to A$70.830, their biggest daily gain since June 2
** Accounting software firm among top gainers on benchmark index .AXJO, which is up 0.1%
** Citi (maintains "buy", A$113.60 PT) estimates a weighted price increase of nearly 8% in FY26 for Xero products, higher than last year's 7% increase, lifting ARPU by ~5% in FY26
** Brokerage says consistent price increase reflects XRO's confidence in market position, rational competition
** Xero's UK increases in FY26 skewed towards plans that saw lower or no price increase last year - Citi
** YTD, XRO down nearly 38% vs .AXJO's 1% rise
(Reporting by Keshav Singh Chundawat in Bengaluru)
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