0305 GMT - Macquarie management's confidence in the Australian financial giant's performance encourages UBS analysts, who say its 1Q update is slightly softer than the market was expecting. The UBS analysts tell clients in a note that the update implies a 10% fall in 1Q profit. However, management says the performance is in line with their expectations and influenced by the timing of asset realizations. This offers some reassurance to the UBS analysts, who are starting to see Macquarie deliver a series of misses relative to expectations. Its reliance on commodities and global markets reduces earnings visibility, they warn. UBS has a neutral rating and A$225.00 target price on the stock, which is down 4.4% at A$215.37. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 23, 2025 23:05 ET (03:05 GMT)

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