Macquarie lifts Xero 12-month target price by 75%

Mon, 04 Mar 2024

Macquarie analysts are upbeat on Xero, lifting their rating to outperform from underperform and their 12-month target price to A$152.60 (NZ$163.27) from A$87.00.The stock last traded at A$135.The move comes after the A$20.5 billion company’s 2024 investor day presentation.According to Macquarie, Xero has shown “early evidence of a clear and rational plan to address latent opportunities”.The FY25-27 strategy is a “3x3” strategy, focusing on the three largest opportunities in the three largest markets, they said...

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