Australia's TechnologyOne falls after Bell Potter downgrades to 'sell'

TECHNOLOGY ONE

16/07/2025 04:16

Updates

** Shares of TechnologyOne TNE.AX fall as much as 3.4% to A$39.01, their largest intraday pct decline since mid-June

** Bell Potter downgrades its rating for the enterprise software firm to "sell" from "hold"

** Also raises price target to A$35.75 from A$35.50

** Brokerage adjusts rating to reflect valuation, says its updated price target represents an 11% discount to stock's last close

** Bell Potter expects FY25 profit before tax (PBT) growth of 19%, in line with Visible Alpha consensus estimate vs co forecast of 13%-17%

** The market already expects the company to beat (PBT growth) and so we neither see a positive catalyst as we do not see much upside risk to our and the market's FY25 forecast - Bell Potter

** Stock up 28.5% YTD, including the day's moves

 (Reporting by Nichiket Sunil and Nikita Maria Jino in Bengaluru)

 ((Nichiket.Sunil@thomsonreuters.com;))