0028 GMT - Xero's bull at Citi endorses the cloud-accounting software provider's focus on top-line growth. Analyst Siraj Ahmed tells clients in a note that driving revenue rather than margins is the right way to go, with the Australia-listed company particularly looking for U.S. growth. Ahmed expects operating expenses as a proportion of revenue to decline to 68% in the second half of the current fiscal year, from 71% in the first half. He then forecasts 70% across fiscal 2027 as Xero invests in U.S. brand marketing. Citi lifts its target price by 5% to A$210.00 and keeps a buy rating on the stock, which is up 0.4% at A$180.80. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 18, 2025 20:28 ET (00:28 GMT)
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