Citi lifts ASX EPS forecasts on stronger trading activity, keeps 'neutral' rating

ASX

07/10/2026 20:46

** Citi maintains its "neutral" rating on Australia's bourse operator ASX ASX.AX and revises its target price to A$61
** Brokerage says exchange's core business continues to deliver solid revenue growth, but near-term earnings remain constrained by elevated costs
** Raises its FY27 EPS estimate by 2% and FY28-FY29 EPS estimates by 1%, citing sustained strength in trading activity
** Citi notes corporate markets activity remained subdued, with A$4.2 billion raised in September, but said the near-term listings pipeline is improving
** Adds its initial view of ASX's new CEO is positive, citing focus on completing the regulatory change programme, bringing in external talent and modernising technology
** YTD, stock up over 10%, as of last close

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com))