0322 GMT - WiseTech Global's 1H results were better than its bull at Goldman Sachs had feared, following the logistics-software provider's recent guidance downgrade. Earnings and profit were both ahead of where analyst Kane Hannan had forecast. He writes in a note that the consistent on-half growth in the Australian company's CargoWise platform reduces the risk of further guidance downgrades. He is also positive on WiseTech's new contract with Logisteed, which he says continues CargoWise's strong momentum among global freight forwarders. GS cuts its target price by 10% to A$128.00 while maintaining a buy rating on the stock, which is down 2.6% at A$94.02. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 22:22 ET (03:22 GMT)
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