0300 GMT - Kelsian's plan to consider divesting its Australian tourism assets indicates that they are not delivering returns in line with the transport operator's new targets, RBC Capital analyst Owen Birrell says. It seems clear that the businesses are not achieving the ASX-listed company's recently announced ambition for a return on invested capital of 200 bps above the pre-tax weighted average cost of capital. Offloading these assets should accelerate these targeted returns, with any cash sale allowing Kelsian to reduce its debt ratio closer to the target. RBC has a last-published sector perform rating and a A$3.50 target price on the stock, which is up 6.4% at A$2.735. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 01, 2025 23:00 ET (03:00 GMT)
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