Jefferies initiates Aussie software firm Objective Corp with 'hold' rating

Objective

31/08/2023 19:48

** Jefferies initiates coverage on Australian software
company Objective Corp  OCL.AX  with a price target of A$12 and
a "hold" rating
    ** Says co has faced a difficult year in FY23, sunsetting
its PRTU software
    ** "Though the medium-term outlook for OCL may be
constructive, headwinds which impacted FY23 look likely to
continue in FY24, in our view" - brokerage
    ** Brokerage sees potential catalysts from overseas
expansion opportunities and M&A for co 
    ** Stock had fallen 4.2% YTD, as of last close

 (Reporting by Aishwarya Nair in Bengaluru)
 ((Aishwarya.Nair@thomsonreuters.com; +91-9167838937 Twitter: https://twitter.com/Aishwaryartrs
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