ASX Loses Bulls Following Stock's Rerate -- Market Talk
Dow Jones2026/08/14 00:280028 GMT - ASX loses its bulls at UBS following the stock's recent rerate. The investment bank's analysts lower their recommendation to neutral from buy, telling clients in a note that they see only moderate value with shares of the Australian market operator trading at 23 times earnings. With interim CEO Darren Yip handing charge to permanent successor Anthony Attia on Sept. 1, they think there are residual risks around costs and capital expenditure. UBS raises its target price on the stock by 7.9% to 66.90 Australian dollars. Shares are down 4.8% at A$57.60. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
August 13, 2026 20:28 ET (00:28 GMT)
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