Citi, Morningstar raise PT for Australia's Qube Holdings after strong FY24 results

Qube Holdings

22/08/2024 20:48

** Analysts at Citi and Morningstar upgrade PT for logistics
service provider Qube Holdings  QUB.AX  following strong FY24
results 
    ** Company posted 15% rise in underlying net profit
attributable for FY24, while underlying revenue rose 17%; sees
continued underlying earnings growth in FY25   
    ** Citi increases PT to A$4.40 from A$4.15 ; Morningstar
hikes fair value estimate by 6% to A$3.70
    ** Company's profit was largely in line with Citi and
Morningstar estimates 
    ** Morningstar hikes FY25 NPAT forecast by about 12%
    ** We estimate diversification and quality of assets within
the business are being under appreciated by the market - Citi
    ** Eight of 14 analysts rate stock "buy" or higher, and six
"hold"; their median PT is A$4.09 - LSEG
    ** Stock up about 20% YTD as of last close
   

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))