Australia's PEXA Group drops after Jarden's downbeat FY outlook

PEXA

21/12/2023 04:00

** Shares of digital property settlements firm PEXA Group
 PXA.AX  fall as much as 4.2% to A$10.460, their lowest since
Oct. 9
    ** Analysts at Jarden deem co's FY24 revenue estimates
"conservative;" peg FY24 operating EBIDTA estimates ~16% below
the brokerage's estimates
    ** Brokerage cuts price target to A$11.30 from A$12.20;
lowers FY24 earnings per share estimate by 24%  
    **  Five of eight analysts rate the stock "buy" or higher,
three "hold;" their median PT A$14.00 – LSEG data
    ** Stock down 8.6% this year, as of last close



 (Reporting by Sneha Kumar)
 ((Sneha.Kumar@thomsonreuters.com;))