Wisetech's Chair Change is a Positive Step for Bull

Dow Jones
07/09

0159 GMT - Jefferies views the departure of co-founder Richard White as WiseTech Global's board chair as a step in the right direction for corporate governance. Analyst Roger Samuel sounds comfortable with White's decision to continue as an executive director, pointing out that it isn't unusual for a major shareholder to have a board seat. Samuel tells clients in a note that he is comfortable with consensus expectation of US$744 million in fiscal 2027 Ebitda, even if the logistics-software developer reports fiscal 2026 Ebitda at the lower end of its guidance range. Maintaining a buy rating on the stock, Samuel says he still sees WiseTech as a high-quality company at a discount. Jefferies cuts its target price by 17% to 60.00 Australian dollars. Shares are up 0.1% at A$34.68. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

July 08, 2026 21:59 ET (01:59 GMT)

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