IRESS Ltd

IRE: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$64.00	Svhsf	Njcpclm

Iress: Turnround Is Progressing Well

Shaun Ler

Dec 1, 2023

Narrow-moat Iress’ strategy update reaffirmed our view that it is merely undergoing a temporary earnings blip that should reverse in 2024. It also strengthened our conviction in management’s ability to improve Iress’ profitability. We increase our fair value estimate to AUD 9.60 per share from AUD 9.20, mainly from lower growth in operating expenses.

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