Tiger Brokers

BUZZ-Jefferies, Morningstar upbeat on TechnologyOne after positive HY results

Reuters
May 21, 2025
BUZZ-Jefferies, Morningstar upbeat on TechnologyOne after positive HY results

** 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))

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