** Analysts at Jefferies upgrade Australia-based TechnologyOne's TNE.AX price target to A$44 from A$35; retain "buy" rating
** The software co posted a 33% increase in HY profit before tax $(PBT)$ on Tuesday and upgraded its FY guidance for PBT to between 13% and 17%
** Due to this, Morningstar analysts raise their fair value estimate by 11% on increased revenue growth assumptions and on expectations of profits to be at high end of range
** Jefferies raises FY25 PBT forecast by 2% while retaining its FY26-FY27 forecasts
** Analysts on average rate the stock "hold", with a median price target of A$32.85, according to data compiled by LSEG
** Shares last traded at A$36.760 and are up 17.4% YTD
(Reporting by Manasi Dasa in Bengaluru)
((Manasi.DasaSundeep@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.