Analysts at Citi have reduced their price target on Australia’s WiseTech Global (ASX:WTC) from A$85.95 to A$73.80, maintaining a neutral rating for the company.
The brokerage expects challenges to the firm’s revenue growth in the latter half of fiscal 2024 due to a weaker macroeconomic environment.
Citi slashed its EBITDA predictions by 14% for fiscal 2024 and by 7% for fiscal 2025, foreseeing greater-than-anticipated cost increases for the company in these years.
Nevertheless, Citi predicts WiseTech Global’s (ASX:WTC) EBITDA margins will bounce back to 50% in the second half of fiscal 2025.
Of the 15 analysts that rate the stock, seven suggest buying or higher, seven recommend holding, and one advises selling, with a median price target of A$76.0 according to LSEG data.
As of the last closing, the company’s stock had risen 27.3% within the year.
WiseTech Global is a leading provider of software solutions for logistics service providers worldwide.