WiseTech Global falls as Citi says second-half revenue outlook still looks ambitious

By Reuters News

** Shares of WiseTech Global WTC.AX fall as much as 2.9% to A$31.510

** Citi struggles to see material acceleration in Cargowise revenue in 2H, despite expecting support from delayed price increases, others

** Says WTC's second-half outlook "still seems optimistic"

** Citi estimates that, assuming Cargowise grows about 7% year-on-year in 1H, achieving the low end of FY revenue growth guidance of 12% year-on-year would require about A$50 million of incremental revenue in 2H

** Brokerage estimates around A$15 million from a 4% price increase and A$2 million from contract customers transitioning to CVP, leaving more than A$30 million to come from AI agents and VerifyWise

** Citi highlights co's view that AI agent adoption is the biggest driver of the 2H revenue skew

** Brokerage rates stock "buy" with a target price of A$58.75

** YTD, WTC down over 50%

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