Aussie analyst cuts Eroad forecasts but still says 'buy'

Thu, 23 Mar 2023

An Australian broking firm has cut its forecasts for transport software company Eroad but has still maintained its “buy” recommendation on the company’s shares.Following the company’s investor day, Bell Potter analyst Chris Savage cut his revenue and earnings before interest, tax, depreciation and amortisation (Ebitda) forecasts by 2% and his Ebitda forecasts for 2024 and 2025 by 3% and 6% respectively.He expects normalised revenue of $158.8 million for the year ending this month, excluding a $7m one-off acquisition acco...

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