0242 GMT - WiseTech's first-half result is seen by its bull at Jefferies as confirmation that its core business remains firm despite recent profit downgrades. Analyst Roger Samuel writes in a note that the logistics software provider seems to have been right to blame the downgrades on delays to three new products. He is reassured that WiseTech's new Nippon Express contract is not at risk amid market concerns around company governance, and thinks that the product rollout could occur more quickly than at other customers. Jefferies lifts its target price 0.2% to A$115.55 and keeps a buy rating on the stock, which is down 2.1% at A$94.49. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 26, 2025 21:42 ET (02:42 GMT)
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