0014 GMT - Technology One gets a new bear at Bell Potter despite the lack of an obvious negative catalyst for the enterprise-software provider. Analyst Chris Savage cuts his recommendation on the stock to sell from hold, telling clients in a note that even the potential for the company to beat its annual profit guidance can't justify its current valuation. Both Savage and the broader market already forecast 19% on-year growth in pre-tax profit, which compares with Technology One's 13%-17% guidance range. He observes that the Australia-listed company's recent history suggests annual profit grows by a percentage in the mid-to-high teens. Bell Potter raises its target price by 0.7% to A$35.75. Shares are down 1.1% at A$39.93. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 15, 2025 20:14 ET (00:14 GMT)

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