Australia's Kelsian Group eyes best day in almost three weeks

Kelsian

09/01/2024 03:49

** Shares of Kelsian Group  KLS.AX  up 1.82% to A$6.99,
their best day since Dec 20, 2023, if gains hold
    ** Analysts at Morningstar say the transport provider's
shares rebounded 25%, as of Jan 8, from their lows on Oct 3,
2023, exceeding the benchmark S&P/ASX 200 index's  .AXJO  7%
gains over the same period 
    ** Brokerage says reappreciation of the group's defensive
earnings by investors and the reiteration of its U.S. growth
opportunities by management are the likely driving forces
    ** Adds, stock now trading broadly in line with brokerage's
unchanged A$6.70 fair value estimate
    ** Eight of 11 analysts rate the stock "Buy", and three
"Hold"; their median PT is A$7.55 – LSEG data
    ** Stock gained ~26% in 2023

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