WiseTech Global falls as Citi says second-half revenue outlook still looks ambitious
BUZZ-WiseTech Global falls as Citi says second-half revenue outlook still looks ambitious ** Shares of WiseTech Global WTC.AX fall as much as 2.9% to A$31.510
** Citi struggles to see material acceleration in Cargowise revenue in 2H, despite expecting support from delayed price increases, others
** Says WTC's second-half outlook "still seems optimistic"
** Citi estimates that, assuming Cargowise grows about 7% year-on-year in 1H, achieving the low end of FY revenue growth guidance of 12% year-on-year would require about A$50 million of incremental revenue in 2H
** Brokerage estimates around A$15 million from a 4% price increase and A$2 million from contract customers transitioning to CVP, leaving more than A$30 million to come from AI agents and VerifyWise
** Citi highlights co's view that AI agent adoption is the biggest driver of the 2H revenue skew
** Brokerage rates stock "buy" with a target price of A$58.75
** YTD, WTC down over 50%
(Reporting by Rajasik Mukherjee in Bengaluru)