0332 GMT - Megaport's uncertain earnings outlook costs it a bull at Jefferies, where analyst Roger Samuel is still waiting on operational improvement from the telco-services connectivity provider. Samuel lowers his recommendation on the stock to hold from buy, telling clients that the improvement he had been looking for by the end of the current fiscal year now looks unlikely. He sees ongoing strategic hiring in sales staff as a good move but writes in a note that operating leverage will be hard to achieve in fiscal 2026 without an acceleration in revenue growth. Target price falls by 24% to A$8.40. Shares are down 1.3% at A$7.47. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 24, 2024 22:32 ET (03:32 GMT)
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