Australia's Qube Holdings hits over 4-yr high after brokerages upgrade rating, PT on FY24 forecast

Qube Holdings

02/05/2024 05:29

(Updates)
    ** Shares of Australia's Qube Holdings  QUB.AX  rise as much
as 8.5% to A$3.56, highest since Jan. 16, 2020
    ** Stock posts biggest intraday pct gain since Feb. 23, 2023
    ** Import and export logistics provider says it expects to
deliver underlying NPAT and EPS growth of 10%-15% in FY24 
    ** Citi lifts QUB's PT to A$3.95 from A$3.85; maintains
"buy"
    ** Jarden raises PT to A$3.70 from A$3.60; raises to "buy"
from "overweight"
    ** Citi says FY24 forecast is "positive" and driven by
better-than-expected container activity across its terminal
business and at group level
    ** Brokerage raises NPAT forecast for FY24-FY26 to 4%-5%
        ** Analysts, on avg, rate QUB "buy"
  
    ** Stock has risen 8% YTD, as of last close

 (Reporting by Megha Rani and Rishav Chatterjee in Bengaluru)
 ((Megha.Rani2@thomsonreuters.com;))