Australia's Judo Capital gains on Morgan Stanley PT, earnings upgrade

Newpoint Financial

25/01/2024 24:30

** Shares of Australia's Judo Capital  JDO.AX  rise as much
as 2.3% to A$1.14
    ** Analysts at Morgan Stanley raise price target on co stock
to A$1.21 from A$1.07
    ** Brokerage says Judo's new forecast provides more
confidence in business model and earnings path
    ** Sees management to have adopted conservative assumptions
for loans, margins and expenses in setting new FY24 outlook 
    ** Upgrades FY24 EPS forecast by 74% and profit before tax
estimate by 17% to A$111 million ($72.95 million)
    ** Stock fell 24.5% in 2023

   ($1 = 1.5216 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))