0231 GMT - Macquarie gets a new bull in UBS, which sees the exit of its Macquarie Asset Management unit from public markets in the U.S. and Europe as a positive development. The transition will shift MAM's focus more toward private markets, particularly infrastructure. "However, with ongoing concerns around CGM's performance and the timing of asset realizations, we think the market has not fully factored in the implications of this divestment on MAM's fee structure, and performance fee potential," analyst John Storey says. CGM refers to Macquarie's Commodities and Global Markets division. UBS upgrades Macquarie to buy, from neutral, and raises its price target by 4.4% to A$235.00/share. Macquarie is up 2.4% at A$210.84. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

January 21, 2026 21:31 ET (02:31 GMT)

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