New Zealand's Vista Group International rises after Macquarie hikes PT

Vista International

07/08/2024 01:58

** Shares of Vista Group International  VGL.NZ  rise as much
as 2.9% to NZ$2.47, their highest since Nov. 23, 2021
    ** Stock posts its biggest intraday pct gain since July 26
    ** Analysts at Macquarie raise PT for the technology firm to
NZ$2.20 from NZ$2.10 and maintain "neutral" rating 
    ** Brokerage says co's FY24 EBITDA margin forecast of
13%-14% is higher vs MRE estimate of 12.2% and Visible Alpha
consensus of 11.7% 
    ** More than 253,000 shares change hands, compared with the
30-day average volume of about 155,000
    ** Avg rating of six analysts, including Macquarie, an
equivalent of "buy"; their median PT is NZ$2.78 - LSEG data
    ** Stock had risen 45.5% this year, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))