WiseTech Global Ltd (WTC.AU), a leading logistics software provider, saw its shares soar by 5.55% during Thursday's trading session. The stock's strong performance comes on the heels of a positive assessment from Citi analyst Siraj Ahmed, who sees limited risk to the company from recent freight forwarder results and ongoing trade tensions.
According to Ahmed, updates from major players in the logistics industry, including DSV, DHL, and Kuehne & Nagel, indicate stable industry volumes in the March quarter. The analyst noted some pull-forward benefits from U.S. tariffs, particularly in electronics goods. Despite lower China-U.S. volumes in April, increased volumes in other channels have helped offset potential negative impacts.
The Citi analyst maintains a bullish stance on WiseTech, with a "buy" rating and a target price of A$115.00. Ahmed believes that while there might be some revenue risk in fiscal 2026 due to a potential global slowdown, lower costs could help mitigate this impact. The positive outlook from Citi appears to have boosted investor confidence, contributing to the stock's significant intraday gain.
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