BUZZ-Jefferies ups PT on Australia's WiseTech, sees further synergies on E2open buyout

Reuters
21 Jul
BUZZ-Jefferies ups PT on Australia's WiseTech, sees further synergies on E2open buyout

** Jefferies raises price target for software co WiseTech Global WTC.AX to A$140 from A$115.5

** Upgrades earnings per share $(EPS)$ estimate by 2% in FY26 and 9% in FY27 to account for the firm's purchase of U.S. cloud computing firm E2open ETWO.N if deal closes by end of CY2025

** In late May, WTC announced it would buy E2open for $2.1 billion to broaden its product offerings

** "WTC's expected cost synergies of $50 million are very conservative" - Jefferies

** Says revenue synergies should provide further upside, as both firms have products that are complementary to each other

** 13 analysts rate the stock 'buy' on average; median price target is A$127.4 - data compiled by LSEG

** Stock down 4.9% YTD, as of last close

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((JasmeenAraIslam.Shaikh@thomsonreuters.com;))

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