0028 GMT - ReadyTech's bulls at Wilsons are unconcerned by the Australian software provider's modest moderation to its revenue outlook. They tell clients in a note that the company's guidance for FY 2025 revenue growth in the low double digits likely means 10%-12%. This isn't a big issue for them since their prior forecast of 12.5% was at the lower end of what they took to be earlier guidance of 12.5%-13% growth, or low-to-mid double digits. The Wilsons analysts suggest that market expectations will be conservative due to uncertainty over timing of contract implementations, but say that they continue to be positive on the opportunities ahead. Wilsons trims its target price 1.1% to A$3.70 and stays overweight on the stock, which is down 1.05% at A$2.84. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 19, 2024 19:28 ET (00:28 GMT)
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