0219 GMT - The likelihood of lower global interest rates brings a new bear to Australia's Computershare. Analyst Kieren Chidgey lowers his recommendation on the share-registry provider to sell from neutral, pointing to its recent outperformance despite a lower yield outlook. He sees falling cash-rate expectations across key regions leading to a steeper-than-anticipated decline in fiscal 2026 margin income--interest earned on cash held for dividends. He also observes that shares are trading well above their 10-year average earnings multiple even though market volatility presents near-term risk to short-term transactional revenues. UBS lifts its target price by 4.3% to A$39.00. Shares are down 2.9% at A$39.88. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 01, 2025 22:19 ET (02:19 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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