2338 GMT - Computershare loses another bull following the stock's recent strong rally on interest-rate curves. Citi analyst Nigel Pittaway tells clients that he is reluctant to cut his recommendation to neutral from buy given other sources of potential upside available to the stock, but that a pause in its ascent seems likely. He sees potential for M&A from Computershare's strong balance sheet and some optimism for activity in its corporate actions and debt issuance units. He writes in a note that the Australian share-registry provider's annual margin income should stay at about US$650 million-US$700 million even if rates fall. Citi raises its target price by 17% to A$35.00. Shares are down 1.6% at A$33.65. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 20, 2025 18:38 ET (23:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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