Recent trends mostly favourable for Xero: Citi

Xero is market leader in Britain but lags QuickBooks in the US

Tue, 24 Jan 2023

Trends in the December quarter in business insolvencies, the formation of new businesses and downloads of accounting software were largely positive for Xero in its major markets of Australia, New Zealand and Britain, according to analysis by Citi.Citi analyst Siraj Ahmed, who has a “buy” recommendation on the stock and has disclosed he holds a long position in Xero shares, said he expects the company will deliver strong earnings growth, underpinned by ongoing penetration of existing markets and by sales of add-on products and third-...

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