0517 GMT - Xero's achievement in growing revenue at a faster pace than two of its cloud-accounting peers is seen positively by analysts at UBS that are bullish on the Australia-listed company. Analyst Lucy Huang acknowledges that Xero's geographic exposure is different from that of Intuit and Sage but is nonetheless encouraged by its growth over the six months through September. Xero's revenue grew by 25% on year, which she notes compares with 19% at Intuit, and 9% at Sage. UBS maintains a buy rating and a target price of A$199.00 on Xero shares, which closed 0.3% lower at A$172.92. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 22, 2024 00:17 ET (05:17 GMT)
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