Macquarie ups PT on NZ's Vista Group on stake sale to Potentia

Vista International

03/06/2024 05:38

** Analysts at Macquarie see upside for New Zealand's Vista
Group  VGL.NZ  from selling stake to private equity firm
Potentia Group
    ** Film software co last week sold 18% stake to Potentia for
NZ$2.10 per share
    ** Brokerage raises target price on VGL to NZ$2.10 from
NZ$1.70, keeps "neutral" rating 
    ** Macquarie sees PT as a "floor to the share price and
within passive valuation range"
    ** However, maintains a wide valuation range of
NZ$1.70-NZ$2.30, citing uncertainty over management's expected
timeline of VGL's software-as-a-service transition
    ** Stock up 29.7% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))