Australia's SiteMinder gains after Jarden hikes PT, upgrades to 'buy'

SiteMinder

11/10/2024 01:43

** Shares of SiteMinder  SDR.AX  rise as much as 5.6% to
A$6.76, their highest levels since early-January 2022 
    ** Stock rises as Jarden hikes PT after pricing in revenue
from new products
    ** Brokerage hikes PT to A$7.48, from A$5.89, upgrades stock
rating to "buy" from "overweight" for the software firm
    ** Jarden says SDR's new products will be successful given
they have strong product market fit
    ** Upgrades FY25-FY27 EBITDA forecasts for SDR in the range
of 87% to 101%
    ** SDR stock up ~25%, YTD
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))