Australia's Audinate falls tracking weaker tech stocks; Macquarie lowers PT

Audinate

10/02/2025 03:10

** Shares of technology co Audinate  AD8.AX  fall 3.7% to
A$7.07, tracking losses in Australian tech stocks  .AXIJ 
    ** Audinate is the second-biggest loser on the sub-index,
which is down 1.3%
    ** The sub-index's performance is in tandem with Wall Street
losses after U.S. President Donald Trump said he plans to
announce reciprocal tariffs  .N 
    ** Macquarie lowers price target to A$7.70 from A$10.2,
retains 'neutral'
    ** Says the cut reflects lowered earnings outlook for the
next three years, accounting for lower sales and negative
operating leverage
    ** Two analysts rate Audinate "buy", 5 "hold"; their median
PT is A$9.23, according to data compiled by LSEG
    ** Stock fell 54.2% in 2024

 (Reporting by Nichiket Sunil in Bengaluru)
 ((Nichiket.Sunil@thomsonreuters.com;))