IRESS Ltd
IRE: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$96.00 | Ynqwkk | Bvycmwtq |
Iress Earnings: Core Businesses Need Work as Noncore Segments Supported Results
Narrow-moat Iress’ first-half 2024 results exceeded expectations, with stronger revenue growth and cost reductions driving improved earnings and margins. This, combined with an upgraded earnings outlook, demonstrates Iress’ ability to still deliver revenue growth amid aggressive cost-outs, surpassing our prior rather conservative projections. We lift our fair value estimate to AUD 10.00 per share from AUD 9.60, reflecting slightly improved revenue growth assumptions, particularly from offshore businesses.