2328 GMT - Bell Potter junks its sell call on Platinum Asset Management, but says the trend for revenue and costs continues to look difficult. Platinum ended talks with Regal Partners over a takeover worth about A$0.90/share late last year. Its stock is currently below A$0.69. That ramps up pressure on Platinum's board to deliver more value than the approach it turned down, analyst Marcus Barnard says. "With revenue still falling, new growth initiatives yet to deliver and the shares trading well below Regal's offer, the company has a lot to prove," Bell Potter says. It moves to hold, from sell. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 05, 2025 18:28 ET (23:28 GMT)
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