0834 GMT - Jardine Matheson's stock appears defensive to Macquarie Capital analysts, citing its diversified earnings and capital-recycling moves. While the conglomerate's shares have re-rated on a price-to-earnings ratio and dividend yield basis, its around 30% net-asset value discount remains attractive, they say. The company is likely to conduct further capital recycling, while its net cash balance sheet provides optionality, the analysts add. Macquarie Capital raises its target price for the Singapore-listed shares to US$84.00 from US$80.00 and retains its outperform rating. Shares rise 5.1% to US$74.80. (megan.cheah@wsj.com)
(END) Dow Jones Newswires
April 01, 2026 04:34 ET (08:34 GMT)
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