0127 GMT - Computershare's more resilient outlook for margin income, a key profit measure, appears priced in following a roughly 30% gain in its share price since the start of November, UBS analysts say in a note. UBS's target on the stock rises to A$36.15 from A$32.00, but its rating is downgraded to neutral from buy. "From here, with a stronger rebound in capital markets activity more likely to coincide with a lower interest rate outlook, net earnings upside appears increasingly reliant on deploying balance sheet capacity," the analysts say. Computershare is down 1.1% at A$34.70. ([email protected]; @RhiannonHoyle)

0051 GMT - Goldman Sachs adds Iluka Resources to its Asia-Pacific conviction list, predicting a doubling in the Australian miner's Ebitda by 2028. Iluka produces nearly a third of the world's zircon, which analyst Paul Young reckons is "one of the best structural supply side stories in commodities." The company is also building a rare earths refinery, "a strategic asset considering it will only be the Western world's fifth refinery outside of China," GS says. The bank has a A$7.70 target on Iluka, which is up 0.6% at A$5.22. ([email protected]; @RhiannonHoyle)

0033 GMT - Equities trading volumes are showing positive signs for ASX, Australia's dominant securities exchange, Macquarie analysts say in a note. They raise FY25 earnings forecast for ASX by 3.2%, citing better futures volumes, and lift Macquarie's target on the stock to A$66.00 from A$64.00. Still, they highlight medium-term concerns about operating and capital costs. "With ongoing challenges around expenses, we are not at the point to become more constructive on the stock," the analysts say. They reiterate a neutral call. ASX is down 1.4% at A$64.77/share.([email protected]; @RhiannonHoyle)

0026 GMT - Macquarie reckons the market may be a little too bullish on Jumbo Interactive's first-half profit. The bank's analysts expect the lotteries company will next month report a 1H profit of around A$18 million, 11% below Visible Alpha consensus and also 11% lower on year. Macquarie's analysts predict lotteries volumes will fall by 7% in FY25, which "has become a more challenging year than expected." The company's strategy to diversify into managed services via M&A also comes with a risk, with recent acquisitions underperforming, they say. Macquarie's target on the stock is trimmed to A$14.40 from A$14.75. A neutral recommendation is retained. Jumbo Interactive is down 1.4% at A$13.93. ([email protected]; @RhiannonHoyle)

2218 GMT - Australian stocks are expected to open slightly weaker, with ASX futures down by 0.1% ahead of the bell. Australia's benchmark index faces headwinds from Wall Street, where U.S. stocks dropped due to worries over persistent inflation. The S&P/ASX 200 has so far enjoyed a solid start to the new year, gaining for four consecutive sessions. It closed Tuesday at 8285.09. Before the market opens, gold miners Regis Resources and West African Resources published some production numbers for last quarter, and Magellan Financial reported net outflows for December. ([email protected]; @RhiannonHoyle)

(END) Dow Jones Newswires