Morgan Stanley raised the firm’s price target on Xero Limited (XROLF) to A$235 from A$225 and keeps an Overweight rating on the shares. The firm’s deep dive into the $6B mid-market Enterprise Resource Planning and accounting software market leads it to view Intuit (INTU) as “best-positioned,” but also leaves it seeing “plenty of runway” for Sage (SGPYY) and Xero too, the analyst tells investors.
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