Another upgrade, page-2

RBC Capital Markets says it has found more reasons to be positive about Aconex (ACX.AU), which provides IT systems for the construction industry, and lifts its price target on the stock by 21% to A$8.50/share. "We expect Aconex to exceed its own revenue guidance over the next few years...and upgrade our financial forecasts," says the broker. RBC now expects Aconex's FY17 ebitda to total A$22.8 million, up from a prior forecast of A$21.7 million. Earnings and revenue are each seen accelerating from FY18. RBC says Aconex has relationships with 68 of the top 250 construction firms, which signals a strong outlook for future growth. "These 68 customers represent a revenue opportunity of A$1.0 billion," says RBC, which has an outperform call on the stock.