Jefferies kicks off 'buy' rating for NZ's Vista Group on upbeat outlook

Vista International

26/03/2025 20:27

** Jefferies is optimistic about cinema software provider Vista Group's VGL.NZ transition from on-premise to SaaS model, expecting revenue per site to triple by FY30

** Brokerage sees potential upside from new customer wins in North America and market expansion

** Notes: Achieving targets of over NZ$300 million ($171.78 million) avg recurring rev and over 6,000 sites could further increase price target

** Flags risks like larger churn of sites, lower price uplift and lower margin expansion than expected, among others

** Initiates coverage with "buy" rating at PT of NZ$4.8

** Stock up 19.4% YTD

($1 = 1.7464 New Zealand dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk))