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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.