WTC - Macquarie rates the stock as Neutral
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Having reassessed its view on WiseTech post result, the broker declares the company to be a high quality growth business capable of long value creation through organic growth and acquisitions. The company's industry leading products should continue to win market share from legacy in-house systems and from competitors.
Successful penetration into other key market verticals will be an important barometer in the medium term. In the short term, the stock trades at a significant premium to global peers. Neutral retained. Target rises 61% to $11.39.
Sector: Software & Services.
Target price is $11.39.Current Price is $10.77. Difference: $0.62 - (brackets indicate current price is over target). If WTC meets the Macquarie target it will return approximately 5% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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