BUZZ-Morningstar cautious on UK market prospects for Australia's TechnologyOne

Reuters
04/02
BUZZ-Morningstar cautious on UK market prospects for Australia's TechnologyOne

** Analysts at Morningstar say investor sentiment is positive for TechnologyOne TNE.AX ahead of its interim fiscal 2025 results

** Investment research firm raises fair value estimate of enterprise software co by 3% to A$16.20/shr

** Replicating the strong customer loyalty and high switching costs seen in ANZ is difficult in the UK, where the company is a late entrant in an already competitive market — Morningstar

** The investment research firm expects co's strategic focus to revolve around increasing number of products used locally in Australia and New Zealand

** 5 of 16 analysts rate the stock "buy" or higher, 9 "hold" and 2 "sell" or lower; their median PT is A$28.44 — LSEG data

** Stock down 8.9% this year, as of last close

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com))

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