2254 GMT - Kelsian's bull at Canaccord Genuity continues to expect a gradual rerating of the Australian transport operator's shares. Analyst Allan Franklin tells clients in a note that there was little new information to be gleaned from the company's annual general meeting, although he did detect a note of contrition over its recent performance. He still expects 9% annual Ebitda growth and sees proof of improving EPS and free cashflow as the likely drivers of a rerating. The stock offers good value following its hefty retracement so far in 2024, he adds. Canaccord Genuity keeps a buy rating and A$6.10 target price on the stock, which is at A$4.02 ahead of the open.(stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 29, 2024 18:54 ET (22:54 GMT)
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