0243 GMT - Pexa's bull at Macquarie isn't worried about the potential impact of a pricing review by Australian state regulators. Reiterating an outperform rating on the Australian real-estate settlements platform, one of the investment bank's analysts tells clients in a note that a coming draft report from New South Wales state's Independent Pricing and Regulatory Tribunal is unlikely to lead to price cuts of 20% or more. The analyst says cuts of between 7% and 12% are more likely, but also sees a chance that it could recommend no change. Either way, the view at Macquarie is that the Australian company is priced for price cuts of 16%-17%. Macquarie keeps its price target at 19.05 Australian dollars. Shares are down 1.4% at A$10.39. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 29, 2026 22:43 ET (02:43 GMT)

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