BUZZ-Australia's Computershare falls to near 1-week low; Citi downgrades to 'neutral'

Reuters
01-21
BUZZ-Australia's Computershare falls to near 1-week low; Citi downgrades to 'neutral'

** Shares of Australia's Computershare CPU.AX fall as much as 2.4% to A$33.38, their lowest levels since Jan 16

** Citi moves the information services provider's rating to "neutral" from "buy", uncertain about whether co can continue its recent rally

** However, brokerage raises target price to A$35.0 from A$30.0, citing favourable move in the rate curves, two recent positively accretive minor acquistions, and increase in debt leverage to drive operational efficiencies

** Three of 12 analysts rate the stock "buy" or higher, rest "hold"; their median PT is A$34, according to data compiled by LSEG

** Stock has risen 21.7% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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