0059 GMT - Perpetual gets upgraded to buy from neutral at UBS, where analysts think that the stock is oversold despite the potential for management to unlock value through divestments. With the investment manager looking to divest its wealth and corporate businesses, the investment bank's analysts tell clients in a note that Perpetual would de-gear its balance sheet proceeds from a wealth sale. There is an active sale process on the unit, they add. The stock is trading at 10 times UBS's FY 2026 EPS forecast, which the analysts think undervalues the business on a sum-of-the-parts basis. UBS raises its target price 18% to A$22.50. Shares are up 10% at A$20.40. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
July 01, 2025 20:59 ET (00:59 GMT)
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