0055 GMT - UBS's bullish pivot toward appliance maker Breville partly reflects its Asia expansion opportunity. UBS upgrades Breville to buy from neutral, and lifts its price target 7.3% to A$35.50/share. It notes Breville's shift to direct distribution in Asia began in Korea in mid-2022. Analyst Apoorv Sehgal says this has been a major success, with Breville's market share in Korea rising to 7% in FY 2024, from 4% in FY 2022. "Breville is now beginning to go direct in China, which we think presents a big opportunity," UBS says. That's because it is a fast growing market with a much lower rate of spend on coffee machines per person compared to Korea. There's also a solid acceptance of Western brands and mid-high price points in China, UBS says. Breville is up 1.9% at A$30.355.(david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

July 16, 2025 20:55 ET (00:55 GMT)

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