0330 GMT - WiseTech's strong growth outlook is largely unchanged by its recent performance or management upheaval, according to its bull at Bell Potter. Analyst Chris Savage tells clients in a note that the logistics-software provider's first-half Ebitda was about 4% stronger than he had anticipated, while free cash flow also looked good and the dividend beat his expectations. He accepts the company's explanation that its recent guidance downgrade is related to delayed product rollouts. He cuts his target price 10% to A$122.50, trimming his revenue forecasts and adjusting for a higher cost of capital due to governance issues. Bell Potter keeps a buy rating on the stock, which is down 2.7% at A$93.87. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 22:30 ET (03:30 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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