0003 GMT - Weak Australian advertising markets keep UBS analysts cautious on Nine Entertainment despite what they see as strong cost control at the media conglomerate. The UBS analysts tell clients in a note that 1H Ebitda was about 5% higher than they had anticipated thanks to lower-than-expected costs. However, they think a low valuation multiple of four times Ebitda is justifiable given ad markets remain short and near-term visibility is low. They add that the overall macro backdrop also looks likely to be a headwind as interest rates move higher amid already subdued consumer confidence. UBS keeps a neutral rating on the stock and cuts its target price 7.4% to A$1.13. Shares are down 0.5% at A$1.06. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 24, 2026 19:03 ET (00:03 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.