Analysts at Canaccord Genuity have elevated the price target for Australia’s Service Stream (ASX:SSM) from A$1.24/share to A$1.35/share.

Service Stream, a network service provider, revealed its plans for further profit growth and increased diversification in fiscal 2024.

With the brokerage predicting the company to report EBITDA of about A$138.5 million, up from their previous estimates of A$133 million, Canaccord Genuity maintains a ‘Buy’ recommendation for the stock.

Among six analysts, five rate the stock as a ‘Buy’ or higher, while one assigns it a ‘Hold’.

Their median price target is A$1.01, according to Refinitiv data.

Following the last close, Service Stream’s stock has seen a 23.4% decline this year.

Service Stream is a network service provider based in Australia.