BUZZ-Citi upbeat on potential revenue growth for Australia's Qube, lifts PT

Reuters
2024-11-22

** Citi increases Qube Holdings' price target to A$4.45 from A$4.4 and retains "buy" rating

** Brokerage estimates higher utilisation of Australia-based logistics service provider's rail and terminal assets to be high margin

** Qube hosted its annual general meeting on Thursday

** Citi increases EBIT estimates by ~3% for fiscals 2025 to 2027

** Citi expects higher logistics earnings from grain trading due to better-than-expected agricultural conditions for co

** Higher automotive terminal revenue estimated on the back of an industry-wide inventory build for the marine port service provider — Citi

** Qube up 19.8% YTD as of last close, outpacing a 10.3% rise on the ASX Industrials index

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com))

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