Morgan Stanley raises PT for Australia's Hipages Group on positive FY earnings

Hipages group

19/09/2024 01:09

** Morgan Stanley raises price target for Hipages Group
Holdings  HPG.AX  to A$1.40 from A$1.05, keeps "equal-weight"
rating
    ** Brokerage raises EBITDA estimates for the technology co
by 6%, 8% and 9% for FY25, FY26 and FY27, respectively 
    ** Says FY24 EBITDA of A$16.4 mln ($11.09 mln) was 6% above
MS estimate and revenue of A$75.8 mln was 1% ahead of MS
estimate
    ** "FY24 result was solid, small beat, with a positive
outlook for FY25" - Morgan Stanley
    ** Hipages Group posted its FY results on Aug 22
    ** Stock had risen 61.3% this year to A$1.29, as of last
close

($1 = 1.4782 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))