2207 GMT - Xero's pricing power and tight control of spending help the cloud-accounting software provider keep its bull at Jefferies. The Australia-listed company's lower-than-expected first-half cost ratio move analyst Roger Samuel to raise his Ebitda forecast for the current fiscal year by 9%, and for fiscal 2026 by 4%. He tells clients in a note that Xero's full-year cost outlook appears very conservative. The company's low customer churn rate is seen positively, especially given an 11% on-year rise in first-half average revenue per user. There is more price growth to come, he adds. Jefferies raises its target price 12% to A$196.10 and keeps a buy rating on the stock, which is at A$171.00 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 14, 2024 17:08 ET (22:08 GMT)
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