0049 GMT - Macquarie Group is downgraded to equal-weight from overweight at Morgan Stanley, where analysts cite the impact of a delayed recovery in capital markets. They tell clients in a note that the softer sentiment in capital markets, combined with underwhelming renewable asset sales, mean that the Australian financial group will be unable to pull on several of its best growth levers in fiscal 2026. They continue to admire the strength of Macquarie's balance sheet, but see better returns on offer elsewhere. Macquarie cuts its target price 15% to A$191.00. Shares are down 1.8% A$175.78. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 13, 2025 20:49 ET (00:49 GMT)
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