UBS cuts Qube Holdings' revenue expectation, cut PT

Qube Holdings

13/07/2022 06:32

** UBS analysts cut price target on Qube Holdings  QUB.AX 
to A$3.10 from A$3.30 and maintains a 'neutral' rating 
    ** Says it reduced QUB's revenue forecast for FY22 and FY23
by 1% and 3%, respectively, due to slowing container port
volumes, lower crop volumes in FY23 and subdued iron ore exports
in FY22 
   ** Shares of the logistics services provider are down 0.2% to
A$2.735
    ** Given that it is difficult to predict revenue
contribution from new contracts, 2H22 performance will be a test
of Qube's ability to defend margins under higher inflation
conditions - UBS 
    ** This led UBS to cut co's FY22 and FY23 profit view by 5%
and 4%, respectively 
    ** Nine of 13 analysts rate the stock 'buy' or higher and
four rate it hold - their median PT is A$3.49 - Refinitiv Eikon 

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))