0223 GMT - Flight Centre Travel Group's acquisition of U.K. online cruise agency Iglu appears strategically sound to its bulls at Morgans. The analysts note the high-margin cruise sector offers strong growth within the travel industry and aligns with the Australian travel agency's plan to expand in the sector. The acquisition multiple was reasonable for an online business and is immediately earnings-per-share accretive, the analysts say in a note. Morgans lifts its FY 2026, FY 2027 and FY 2028 net profit before tax projections by 3.2%, 5.3% and 5.2%, respectively to reflect the acquisition. Morgans raises its target price to A$18.38 from A$15.65 and retains its buy recommendation, citing undemanding trading multiples for the stock. Shares rise 0.8% to A$15.07.([email protected])

0117 GMT - Malaysia REITs remain a defensive option for investors seeking stable, domestically driven income, RHB analyst Loong Kok Wen says in a note. Fundamentals are solid, with high occupancy rates and clear earnings visibility, while a lower interest-rate environment should ease funding costs and support refinancing and potential acquisitions, she says. However, uncertainty remains over the possible expiry of 10% withholding tax concession after 2025, which could compress net yields for foreign and retail investors if not extended. Loong says the broader impact should be limited, cushioned by stable domestic institutional funds and government-linked investors. RHB maintains an overweight rating on Malaysia REITs sector, pegging Pavilion Real Estate Investment Trust as its top pick, given its large exposure and strong retail positioning to capture Visit Malaysia 2026-related tourist arrivals.([email protected])

0104 GMT - Australian telcos are likely to be disappointed by regulatory changes that had initially implied bigger cost savings, Jefferies analysts say. A revised proposal by the Australian Communications and Media Authority has increased the expected cost of renewing expiring spectrum licenses by about A$1.7 billion, reducing potential cost savings for Telstra, TPG and Optus. Jefferies now estimates savings of A$450 million for Telstra and A$200 million for TPG, versus its previously expected A$1.0 billion-A$1.6 billion and about A$400 million, respectively. Jefferies still prefers TLS to TPG as it has a strong balance sheet and can maintain capital management flexibility despite the lower potential cost savings from spectrum renewals. "By contrast, TPG is generating just enough cash earnings to sustain the current distribution per share of A$0.18, leaving no buffer for further capital management." ([email protected])

2248 GMT - Australian stock futures are pointing to a flat open for the S&P/ASX 200 benchmark index. ASX futures are barely moved ahead of Wednesday's session, suggesting some uncertainty among local investors as they wait on the appointment of a new U.S. Fed chair and some signal of future interest-rate strategy. Ahead of the open, Treasury Wine Estates said that it would lower shipments and intake in response to lower retail demand in the U.S. and China. Santos said it had offloaded two noncore assets and made its last debt repayment related to its stake in the PNG LNG project. U.S. equities finished mostly lower. The DJIA lost 0.6%, and the S&P 500 slipped 0.2%, but the Nasdaq Composite edged 0.2% higher. ([email protected])

(END) Dow Jones Newswires