ASX: MQG<\/a>) has updated its guidance on the ASX 200 share.<\/p>\n Macquarie’s outlook for Bravura shares <\/p>\n
In a recent note to investors, the broker confirmed its neutral stance on Bravura shares. It also raised its target price to $3.02. Macquarie’s latest guidance was for $2.03 in August. <\/p>\n
At the time of writing, the new target price represents a potential downside of 8.3% over the next 12 months.<\/p>\n
“Valuation: TP raised to $3.02 (from $2.03), reflecting upgrades. We have also removed the discount we applied to the terminal growth assumption, to reflect ongoing performance,” Macquarie analysts said.<\/p>\n
“Neutral. While we have upgraded earnings and our target price, the share price movement ahead of the update and in reaction to the release captures is in-line with our valuation.”<\/p>\n
What else did Macquarie have to say? <\/p>\n
The broker said that the initial FY26 guidance noted that underlying revenue growth was expected to be driven by existing customers in EMEA and APAC and cross-sell opportunities in tandem with some new business wins. But added that no new customer wins were announced with the trading update. <\/p>\n
Macquarie also said that the guidance upgrade comes despite a “drag from customer exits announced in 2022, that have remained clients”.\u00a0<\/p>\n
“One of three customer exits disclosed in Nov 2022 was expected to complete migration to a BPO by 1 Jan 2026. This customer generated A$10m revenue in FY25 and was not part of the reported FY25 attrition. This implies ~$5m FY26 revenue headwind. One of the other three customer exits from 2022 remains a client.”<\/p>\n
Also, exits or reductions in FY25 were expected to have a further 2.5% (or A$6.5m) revenue headwind in FY26.<\/p>\n
Macquarie added: “While the upgrade calls out continued GBP strength, since guidance was issued at the result, the GBP has actually slightly weakened vs the AUD.”<\/p>\n","protected":false},"excerpt":{"rendered":"Image source: Getty Images The S&P\/ASX 200 Index (ASX: XJO) is climbing higher today, up 1.27% at the…\n","protected":false},"author":2,"featured_media":156973,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99,8428,51564,7037,7038,7039,7040,118678,8430],"class_list":{"0":"post-185915","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-category-brokers","12":"tag-category-tech-shares","13":"tag-partner-feeds-msn-9","14":"tag-partner-feeds-newstex","15":"tag-partner-feeds-sharesight","16":"tag-partner-feeds-webull","17":"tag-tickers_global-asx-bvs","18":"tag-tickers_global-asx-mqg"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/185915","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=185915"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/185915\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/156973"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=185915"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=185915"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=185915"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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