Credit Suisse a Xero fan but says stock is expensive

Thu, 19 Dec 2019

Xero is a "best-in-class growth company" and its move to become a platform for other business-related applications "further moves the goal posts on competition and brings genuine monetisation potential," according to Australia-based broking firm Credit Suisse.Nevertheless, Xero's shares are expensive and "we await any share price weakness for an entry point," Credit Suisse said of the stock in a note initiating coverage, which is branded Jarden, the broking firm's New Zealand partner.The accounting software company's shares last traded on ASX a...

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