Stock Track | WiseTech Global Soars 6.20% Intraday on Analyst Expectations of Major Customer News
Stock Track04-30 10:48
WiseTech Global Ltd (WTC.AU) saw its stock price soar 6.20% during intraday trading on Thursday, reflecting significant investor optimism.
The surge follows a report from Citi analyst Siraj Ahmed, who expects Danish freight-forwarder DSV to soon reveal how much of its business will go to the Australian logistics-software provider. Ahmed's base case scenario is that DSV will shift much of its needs from WiseTech's CargoWise platform to the Tango platform that came with its 2025 acquisition of DB Schenker. He adds that DSV could continue to use WiseTech to manage its customs compliance.
Citi maintains a buy rating and a A$65.35 target price on WiseTech shares. The analyst expects DSV to clarify its plans at its capital markets day on May 12.
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