2301 GMT - Macquarie's bull at Jefferies thinks the Australian financial group is moderately valued as cyclical indicators near positive turning points. A note from one of the investment bank's analysts opines that Macquarie is entering a strong growth phase where "market conditions, industry dynamics and internal transition converge." The analyst writes that conditions at its asset-management and commodities/global markets units are near or at a trough, while returns from banking and financial services are already strengthening. They also see identifiable levers for improvement at Macquarie Capital. Jefferies lifts its target price 17%, to A$245.20, and keeps a "buy" rating on the stock, which is at A$195.45 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 09, 2026 19:01 ET (23:01 GMT)
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