Jefferies upbeat on Australia's Qube Holdings earnings growth in FY24

Qube Holdings

27/09/2023 20:03

** Brokerage Jefferies expects Qube Holdings  QUB.AX  to see
earnings growth in FY24, citing the "diversified nature" of the
Australian logistics company 
    ** Says declines in co's container volumes in August is in
line with expectations 
    ** QUB is expected to grow strongly in FY24, offsetting the
expected 1H24 weakness in jointly-owned container terminal
operator, Patrick, and the A$40-A$45 mln of additional net
interest costs in FY24 - Jefferies
    ** Maintains PT at A$3.98 ($2.53) with "buy" rating
    ** QUB up 1.78% YTD, as of last close


($1 = 1.5741 Australian dollars)

 (Reporting by Adwitiya Srivastava in Bengaluru)
 ((Adwitiya.Srivastava@thomsonreuters.com;))