WiseTech Bulls Cut Earnings Forecasts on Revenue Outlook
Dow Jones
Yesterday
0436 GMT - WiseTech Global's bulls at UBS lower their earnings forecasts for the logistics-software provider on moderated revenue expectations. Analysts Lucy Huang and Alisa Lei maintain a buy rating on the stock, but trim their revenue outlook after WiseTech decided against raising prices of its CargoWise product on July 1. They continue to see WiseTech enjoying a strong defensive moat against the threat of artificial-intelligence-powered disruption, and like its cost discipline, but now expect fiscal 2027 revenue at the lower end of company guidance. They tell clients in a note that they are giving WiseTech little benefit on midterm growth drivers. UBS cuts its target price 14% to 56.00 Australian dollars. Shares are down 2.7% at A$39.77.
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