Australia's PEXA falls but Macquarie raises PT on half-year performance

PEXA

04/03/2025 23:42

** Shares of PEXA Group PXA.AX are down 0.9 % at A$11.62

** Stock continues to retreat from gains seen on February 28 after co posted a 25% jump in HY revenue

** Macquarie raises price target on PXA to A$14.72 from A$14.64, with "outperform" rating

** Brokerage highlights the property settlements platform co's half-year performance; co reaffirms FY25 outlook as revenue came at top end of guidance

** Also notes co's higher margins, improved cash flow, and operational progress in the UK

** 8 of 10 analysts rate the stock "buy", 2 "hold"; their median PT is A$15.50, according to data compiled by LSEG

** Stock down 11% this year

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com))