Jefferies, Morningstar upbeat on TechnologyOne after positive HY results

TECHNOLOGY ONE

20/05/2025 22:14

** Analysts at Jefferies upgrade Australia-based TechnologyOne's TNE.AX price target to A$44 from A$35; retain "buy" rating

** The software co posted a 33% increase in HY profit before tax (PBT) on Tuesday and upgraded its FY guidance for PBT to between 13% and 17%

** Due to this, Morningstar analysts raise their fair value estimate by 11% on increased revenue growth assumptions and on expectations of profits to be at high end of range

** Jefferies raises FY25 PBT forecast by 2% while retaining its FY26-FY27 forecasts

** Analysts on average rate the stock "hold", with a median price target of A$32.85, according to data compiled by LSEG

** Shares last traded at A$36.760 and are up 17.4% YTD

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com))