Australia's TechnologyOne extends rally to record high after profit beat, PT hikes

Shares of enterprise software co TechnologyOne TNE.AX extend gains to a second session, up 4.2% to A$38.32

Stock rose as much as 5.2% to a record high of A$38.67 earlier in the session

Co reported HY pre-tax profit (PBT) of A$81.9 mln ($52.78 mln) on Tuesday, beating Visible Alpha consensus of A$77 mln

Jefferies hikes PT for to A$44 from A$35, retains "buy"

UBS raises PT to A$42.2 from A$33.8

Jefferies says its new forecasts imply 17.5%, 18.2% and 22.4% PBT growth in FY25, FY26 and FY27, respectively

Average rating of 16 analysts "hold", according to data compiled by LSEG

Stock up 22.6% YTD

($1 = 1.5518 Australian dollars)