Pexa's U.K. Unit Provides Material Potential Upside -- Market Talk

Dow Jones

2025/05/13

0414 GMT - Real-estate settlement provider Pexa continues to offer material medium-term upside from its U.K. operation, according to its bull at UBS. Analyst Kieren Chidgey tells clients in a note that Pexa's current share price suggests that the market is attributing only negligible value to its U.K. unit. However, he points out that slower remortgaging activity there is only a short-term headwind. Sales and purchase volumes are growing and broader momentum looks positive, he adds. UBS keeps a buy rating on the stock and trims its target price by 2.9% to A$15.30. Shares are up 0.9% at A$11.78. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 13, 2025 00:14 ET (04:14 GMT)

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