2359 GMT - WiseTech Global's share-price slump presents long-term investors with a buying opportunity, Morgan Stanley analysts say. They write in a note that their fundamentally positive view of the Australian logistics-software provider is intact despite the sudden exit of its chairman and three other independent directors. They expect further share-price volatility but think that buying the stock amid the current management turmoil will ultimately deliver rewards. WiseTech remains a uniquely good and profitable software business, they add. MS cuts its target price 12.5% to A$140.00 and maintains an overweight rating. Shares are down 2.5% at A$94.78. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 24, 2025 18:59 ET (23:59 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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