Citi upbeat on potential revenue growth for Australia's Qube, lifts PT

Qube Holdings

21/11/2024 21:11

** Citi increases Qube Holdings'  QUB.AX  price target to
A$4.45 from A$4.4 and retains "buy" rating
    ** Brokerage estimates higher utilisation of Australia-based
logistics service provider's rail and terminal assets to be high
margin
    ** Qube hosted its annual general meeting on Thursday
    ** Citi increases EBIT estimates by ~3% for fiscals 2025 to
2027
    ** Citi expects higher logistics earnings from grain trading
due to better-than-expected agricultural conditions for co
    ** Higher automotive terminal revenue estimated on the back
of an industry-wide inventory build for the marine port service
provider — Citi
    ** Qube up 19.8% YTD as of last close, outpacing a 10.3%
rise on the ASX Industrials index  .AXNJ 

 (Reporting by Nikita Maria Jino in Bengaluru)
 ((Nikita.Jino@thomsonreuters.com))