TechnologyOne downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded TechnologyOne to Neutral from Buy with a A$24.05 price target TechnologyOne has “justifiably re-rated,” but the risk-reward now appears fair, with balanced risks to both the upside and downside, the analyst tells investors. Shares deserve to trade in line with high quality Australia peers, but the firm sees limited near-term earnings or valuation upside, the analyst added.

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