0057 GMT - Mall owner Scentre loses a bear in UBS as it moves to overhaul some of its debt. Analyst Solomon Zhang expects Scentre's tender offer for some A$1.8 billion of subordinated notes to drive stronger earnings growth in FY 2027. UBS now expects Scentre's earnings in FY 2027 to rise by 4%, double the pace it had previously forecast. "We estimate that a full refinance of the sub notes would drive 4.5% earnings accretion," UBS says. It upgrades Scentre to neutral, from sell, and raises its price target by 8.6% to A$3.80/share. Scentre is up 0.6% at A$3.67. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 29, 2026 20:57 ET (00:57 GMT)
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