UBS tips more bad news for Macquarie
UBS is forecasting a weaker full-year earnings result from Macquarie that it expects will amount to further earnings downgrades for the investment bank.
Noting it was “a difficult business to forecast”, UBS is forecasting a full-year net profit of $3.4 billion, lower than consensus estimates for a $3.7 billion. It pointed to the ongoing lack of asset realisations from the investment bank’s Green Investment Group and weaker revenues from commodities and global markets.
“The market continues to look through a number of soft prints and earnings misses for Macquarie over the past 12 months and we expect further earnings downgrades on the back of FY25,” UBS added.
UBS pointed to one ‘positive development’ – Macquarie’s intended sale of its North American and European public investments business to Nomura.
Macquarie shares were down 1.1 per cent around 3.20pm on Wednesday. UBS has a neutral rating on the stock and a price target of $235 a share.
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Last
$208.88 |
Change
-4.020(1.89%) |
Mkt cap ! $79.61B | |||
| Open | High | Low | Value | Volume |
| $212.21 | $213.00 | $208.53 | $372.7M | 1.784M |
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| No. | Vol. | Price($) |
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| Price($) | Vol. | No. |
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| Last trade - 16.10pm 20/06/2025 (20 minute delay) ? |
| MQG (ASX) Chart |