** IPH IPH.AX rises as much as 2.4% to A$3.655; last up 0.4% at A$3.585 by noon

** Macquarie trims PT to A$4.04 from A$5.55; retains "outperform"

** Says intellectual property services provider's Australian filings fell 8.7% y/y in November vs market activity of 8.6%

** Cuts EPS forecasts by 1% for FY26, 2.5% for FY27, 4%-4.2% for FY28-FY30 to reflect weak filings

** Adds cost cuts, FY26 improvement, strong cash generation remain appealing despite weak operating performance

** IPH falls 28.4% YTD

(Reporting by Kumar Tanishk and Adwitiya Srivastava in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))