BUZZ-Jefferies cuts price target for Australia's WiseTech amid probe for alleged trading

Reuters
Nov 24
BUZZ-Jefferies cuts price target for Australia's WiseTech amid probe for alleged trading 

** Jefferies trims price target for WiseTech Global WTC.AX to A$89 from A$125.60, including a discount reflecting the unfavourable outcome of an ongoing investigation by Australia's corporate regulator into share sales by certain WTC employees

** Brokerage cuts EBITDA forecasts for WTC by 10% in FY26 and 8% in FY27 to account for potential business impact from the investigation

** However, Jefferies believes there is enough management bench strength to execute initiatives including introduction of a new commercial model, even as risks associated with the investigation persist

** 10 of 16 analysts rate the stock "buy" or higher, and six "hold"; their median PT is A$120, according to LSEG data

** YTD, stock down 45.7%, as of last close

($1 = 1.5497 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru; Editing by Richard Chang)

((mailto: Sherin.Sunny@thomsonreuters.com))

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