Xero shares upgraded to 'buy' at CLSA on growing confidence in growth outlook

Thu, 08 Feb 2018

By Paul McBeth Feb. 8 (BusinessDesk) - CLSA has upgraded its rating for Xero shares to 'buy' as the Asian brokerage becomes more confident in the New Zealand software developer's growth prospects in coming years. Analyst Roger Samuel raised his rating for the ASX-listed shares in a note to clients on Feb. 6, increasing his target price for the stock to A$37.30 from a previous price of A$34 on the expectation Xero will solidify market-leading positions in Australia, New Zealand and the UK. CLSA's Samuel says Xero has passed MYOB in Austra...

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