Citi, Morningstar raise PT for Australia's Qube Holdings after strong FY24 results
** Analysts at Citi and Morningstar upgrade PT for logistics service provider Qube Holdings QUB.AX following strong FY24 results
** Company posted 15% rise in underlying net profit attributable for FY24, while underlying revenue rose 17%; sees continued underlying earnings growth in FY25
** Citi increases PT to A$4.40 from A$4.15 ; Morningstar hikes fair value estimate by 6% to A$3.70
** Company's profit was largely in line with Citi and Morningstar estimates
** Morningstar hikes FY25 NPAT forecast by about 12%
** We estimate diversification and quality of assets within the business are being under appreciated by the market - Citi
** Eight of 14 analysts rate stock "buy" or higher, and six "hold"; their median PT is A$4.09 - LSEG
** Stock up about 20% YTD as of last close
Reporting by John Biju in Bengaluru
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