BUZZ-Citi positive on near-term outloook for Australia's WiseTech Global

Reuters09-08
BUZZ-Citi positive on near-term outloook for Australia's WiseTech Global

** Citi sees embedding agentic AI based workflow and management engine into WiseTech Global's WTC.AX Cargowise platform and E2open to be key value driver in the near term for co

** "We see the 2H skew as being driven by the new commercial model and see successful partnerships with large forwarders as the next sign-post" - Citi

** Brokerage says while Container Transport Optimisation $(CTO)$ remains a large revenue opportunity for WTC but sees its realisation over years

** Citi sees potential for group revenue to be stronger than expected in the near term from faster and higher E2open revenue synergies, even as WTC focusses on Cargowise growth

** 10 of 16 analysts rate the stock "buy" or higher, five "hold" and one "sell"; their median PT is A$123 – LSEG data

** YTD, stock last down 22.7%

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))

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