Tiger Brokers

BUZZ-Morgan Stanley raises PT for Australia's Hipages Group on positive FY earnings

Reuters
Sep 19, 2024

** Morgan Stanley raises price target for Hipages Group Holdings to A$1.40 from A$1.05, keeps "equal-weight" rating

** Brokerage raises EBITDA estimates for the technology co by 6%, 8% and 9% for FY25, FY26 and FY27, respectively

** Says FY24 EBITDA of A$16.4 mln ($11.09 mln) was 6% above MS estimate and revenue of A$75.8 mln was 1% ahead of MS estimate

** "FY24 result was solid, small beat, with a positive outlook for FY25" - Morgan Stanley

** Hipages Group posted its FY results on Aug 22

** Stock had risen 61.3% this year to A$1.29, as of last close

($1 = 1.4782 Australian dollars)

(Reporting by Sherin Sunny in Bengaluru)

((Sherin.Sunny@thomsonreuters.com))

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