Australia's PEXA slips to over 9-month low after Jefferies lowers target price

PEXA

02/04/2026 04:52

Updates

** PEXA Group PXA.AX shares fall as much as 6.3% to A$12.15, their lowest level since June 13, 2025

** Jefferies lowers digital property exchange firm's PT to A$13.40 from A$16.00; maintains "hold"

** New South Wales' pricing body IPART's shift toward building-block model for electronic lodgement fees creates uncertainty for PEXA's input costs - Jefferies

** Adds, Australian Registrars' National Electronic Conveyancing Council could set prices below what property settlement platform PEXA can charge under current regime

** IPART's review aims to regulate ELNO fees around efficient costs, which could limit pricing power and profits above normal return for PEXA - Jefferies

** Eight of 10 analysts rate stock "buy" or higher, two "hold"; median PT A$17.6 – LSEG data

** PXA down 9.2% YTD

(Reporting by Keshav Singh Chundawat and Aamir Sheik Khalid in Bengaluru)

((Keshav.singhchundawat@thomsonreuters.commailto:Aamir.SheikKhalid@thomsonreuters.com))