2335 GMT - Pexa's bull at Macquarie stays positive on the real-estate settlement provider despite its acknowledgement that engagement with U.K. lenders has been slower than expected. The Australian company's operational progress in the U.K. is among the supporting factors in the stock's continued outperform rating, with interest from so-called tier-two and tier-three lenders seen as good. The investment bank's analysts are less positive on Pexa's progress with tier-one lenders. However, first-half group revenue was in line with expectations at Macquarie, where higher margins and improved cash flow are also seen positively. Macquarie raises its target price 0.5% to A$14.72. Shares are down 1.3% at A$11.58. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 04, 2025 18:35 ET (23:35 GMT)
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