WiseTech Global Ltd (WTC.AU) shares are soaring in Thursday's trading session, jumping 5.55% as investors react to positive analyst commentary. The surge comes after a Citi analyst expressed confidence in the logistics-software provider's outlook, despite recent industry developments.
Citi analyst Siraj Ahmed maintains a bullish stance on WiseTech, citing limited risks from recent freight forwarders' results and potential tariff impacts. In a note to clients, Ahmed highlighted that updates from major players like DSV, DHL, and Kuehne & Nagel indicate stable industry volumes in the March quarter, with some pull-forward benefits from U.S. tariffs, particularly in electronics goods.
While acknowledging potential revenue risks in fiscal 2026 due to a global slowdown, Ahmed suggests that lower costs could help offset these concerns. The analyst remains optimistic, maintaining a buy rating on WiseTech with a target price of A$115.00. This positive outlook appears to be driving investor enthusiasm, contributing to the stock's significant intraday gain.
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