0206 GMT - Fineos's reduced cash balance increases the risk that the insurance-software provider will have to raise equity, says Citi analyst Siraj Ahmed. He says in a note to clients that an equity raise is not part of his base case, but that weaker-than-expected cash receipts or increased customer churn could force the company to act. That said, he says that cash receipts are typically stronger in the March quarter, while operating expenses are expected to fall across FY 2025. Citi raises its target price 4.4% to A$2.35 and keeps a buy rating on the stock, which is up 5.7% at A$1.96. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 22:06 ET (02:06 GMT)
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