2305 GMT - Xero is likely to enhance its investment into growth areas after its better-than-expected cost performance over its fiscal first half, UBS analyst say in a note. They tell clients that the U.S. could be a focus for investment after the cloud-accounting software provider's six-month operating expenses came in at 71.2% of operating income. Xero is still guiding for a full-year ratio of 73%, they say. The Australia-listed company's cost control and free-cashflow generation are seen as the highlights of its fiscal first half, with strong pricing power another positive. UBS has a buy rating and A$175.00 target price on the stock, which is at A$161.55 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 13, 2024 18:06 ET (23:06 GMT)
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