Computershare's (ASX:CPU) stock has continued to outperform despite recent market volatility and a lower yield outlook, which are both factors that could impact the company's short-term transactional revenues, UBS said in a note, as reported by multiple media outlets on May 2.
"With Computershare's 19.2 times 12-month forward PE ratio now 14 per cent above its 10 year average, despite lower near term EPS prospects... valuation risk appears to be skewed to the downside," said Kieren Chidgey, analyst at UBS.
The investment firm reportedly flagged that lower margin income yields are likely to constrain earnings-per-share growth in fiscal 2026.
UBS downgraded Computershare to sell from neutral and lifted its price target on the stock to AU$39 from AU$37.40.
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