0039 GMT - Xero's U.S. growth prospects appear intact to its bulls at Morgan Stanley despite a major rival's push into enterprise-resource planning. MS analysts don't see any risk from Intuit's targeting of the midmarket segment, with Australia-listed Xero expected to remain squarely focused on small and medium-sized businesses. In fact, their analysis has increased their confidence in Xero's U.S. growth potential. They tell clients in a note that Xero has only a 6% share of what they say is still an immature accounting software market for its target cohort. MS has an overweight recommendation and A$235.00 target price on the stock, which is down 0.7% at A$177.14. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 08, 2025 20:39 ET (00:39 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.