Jefferies lowers PT for Australia's PEXA over regulatory challenges

PEXA

01/04/2026 20:51

** Analysts at Jefferies lower price target for Australia's PEXA Group PXA.AX to A$13.40 from A$16.00; maintain "hold" rating

** Shift of New South Wales' pricing regulatory body IPART, towards a building-block model for electronic lodgement network operator (ELNO) fees, poses regulatory risk for PEXA Group due to uncertainty around the input to the model - Jefferies

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

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

** Analysts' median PT at A$17.60, according to LSEG data

** As of last close, PXA down 3.4% YTD

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))