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Citi opens positive catalyst watch on Xero, sees upside to HY results; shares rise

By Reuters News04:48 (UTC), 4 November 2026 Updated

** Analysts at Citi retain a "buy" rating on Wellington-headquartered Xero XRO.AX with A$91.55 target price

** Brokerage opens positive catalyst watch ahead of H1 results, expecting strong top-line growth

** Says adoption of Cashflow Central remains slow but is starting to ramp

** Expects the ramp-up in Cashflow Central to support syndicated payments revenue growth in 2H27, forecasting 48% y/y growth

** Brokerage forecasts growth in Melio of 38% y/y in FY27 and a 35% revenue CAGR through FY29

** Adds, growth in syndicated payments should also be gross-margin accretive

** Shares of XRO rise as much as 1.8% to A$64.170

** YTD, stock down 45.5%, including the session's moves

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