UBS upgrades Australian bourse operator ASX to 'buy'; shares rise

ASX

17/09/2026 03:37

** Shares of Australian stock exchange operator ASX ASX.AX rise as much as 4.8% to A$55.640, logging their biggest intraday pct gain since August 13 
** UBS upgrades stock to "buy" from "neutral", but lowers target price to A$64.20 from A$66.90
** UBS says observable indicators for about 50% of group revenue are tracking ahead of consensus expectations
** Brokerage says 1Q27 trading activity is also running ahead of consensus
** UBS sees growing upside from ASX's equity clearing, settlement and issuer services business, forecasting 7.5% FY27 revenue growth in the segment versus consensus of 2.7%

** One of 11 analysts rate the stock "buy" or higher, eight "hold" and two "sell" or lower; their median PT is A$57.90 – LSEG data
** Stock up over 5% this year, including the day's move

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