0346 GMT - Iress's sale of its superannuation business is positive for the Australian financial-services tech provider, according to E&P analyst Olivier Coulon. Worth up to A$60 million, the sale is not a large one but Coulon points out that it relieves Iress of a loss-making asset that has appeared to be non-core for some time. He tells clients in a note that the net result on Iress's earnings will depend on how much in stranded corporate costs the company can excise. E&P has a positive rating and A$11.35 target price on the stock, which is up 4.9% at A$9.52. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 19, 2025 22:46 ET (03:46 GMT)
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