Jefferies, Morningstar lower PT on Australian bourse operator as ASX warns of higher 2027 spending

ASX

26/05/2026 22:31

** Jefferies cuts price target for Australia's ASX ASX.AX as bourse operator warned of sharp rise in 2027 spending for technology upgrades and new product developments
** Brokerage lowers PT to A$50 per share from A$54
** Analysts at Morningstar note ASX's attribution of higher costs to technology cost inflation and new product development
** "We struggle to reconcile this with artificial intelligence driving down the cost of technology development," Morningstar says
** Lowers fair value estimate by 5% to A$67 per share
** Investment research firm expects ASX's incoming CEO to provide opportunity for a reset of relations with market participants and, crucially, regulators
** Stock down nearly 1% this year, including the day's move

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