IRESS Ltd
IRE: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$68.00 | Wxwhbt | Tmqngnvy |
Iress: Turnround Is Progressing Well
Narrow-moat Iress’ strategy update reaffirmed our view that it is merely undergoing a temporary earnings blip that should reverse in 2024. It also strengthened our conviction in management’s ability to improve Iress’ profitability. We increase our fair value estimate to AUD 9.60 per share from AUD 9.20, mainly from lower growth in operating expenses.