2321 GMT - Technology One's medium-term revenue goal already looks conservative to its bulls at Wilsons. The broker's analysts tell clients in a note that the enterprise software provider's short-term target of A$500 million in annual recurring revenue by the end of its current fiscal half looks very achievable. They point out that the Australian company reported A$470 million in ARR over fiscal 2024, a 20% on-year rise. Given this pace, Technology One's aim to hit A$1 billion by 2030 looks conservative to them even at this distance. They say that enviable cash generation looks likely to fuel strong organic dividend growth, with extra payouts possible. Wilsons raises its target price 47% to A$32.69 and stays overweight on the stock, which is down 0.9% at A$29.18. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 19, 2024 18:21 ET (23:21 GMT)
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