ACX 0.00% $7.79 aconex limited

Aconex Price Target Raised 49% to A$10.00/Share by Morgan Stanley, page-2

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    Morgan Stanley increases its price target for Aconex (ACX.AU), which provides IT systems for the construction industry, by 49% to A$10.00/share and says the company has one of the most disruptive and scalable models in the Australian market. Morgan Stanley notes that some of Aconex's biggest customers are in the early stages of multi-year ramp-ups, which allows the company to provide four-year guidance with confidence. As a result, the broker now assumes Aconex's EPS will rise 2%-3% higher than it originally thought for FY16-18. "The market underestimates the power and certainty of Aconex's earnings," says Morgan Stanley, which has an overweight call on the stock.
 
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