BUZZ-Jefferies ups PT on Australia's WiseTech, sees further synergies on E2open buyout

Reuters07-21
BUZZ-Jefferies ups PT on Australia's WiseTech, sees further synergies on E2open buyout

** Jefferies raises price target for software co WiseTech Global WTC.AX to A$140 from A$115.5

** Upgrades earnings per share $(EPS)$ estimate by 2% in FY26 and 9% in FY27 to account for the firm's purchase of U.S. cloud computing firm E2open ETWO.N if deal closes by end of CY2025

** In late May, WTC announced it would buy E2open for $2.1 billion to broaden its product offerings

** "WTC's expected cost synergies of $50 million are very conservative" - Jefferies

** Says revenue synergies should provide further upside, as both firms have products that are complementary to each other

** 13 analysts rate the stock 'buy' on average; median price target is A$127.4 - data compiled by LSEG

** Stock down 4.9% YTD, as of last close

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment