0202 GMT - The surge in Macquarie's share price over the last month has cost the Australian financial group its buy rating at UBS. Lowering their recommendation to neutral, analysts John Storey and Nicholas Sobolev tell clients in a note that the stock is trading at about 17.3 times earnings on a two-year forward basis. That is in line with long-term averages, they point out. They lift their EPS forecasts to reflect Macquarie's sale of its OnStream smart-meter portfolio and the AirFinance leasing service, and see further asset realization as a key catalyst. UBS keeps a A$235.00 target price on the stock, which is down 0.6% at A$230.59. ([email protected])

0134 GMT - Cochlear won't get a good start to its next fiscal year but there is still some cause for optimism, Jarden analysts say. While the hearing implant maker has slashed its FY 2026 profit guidance on weak unit sales, the Jarden analysts tell clients in a note that the Australian company's services segment appears to be rebounding into fiscal 2027. Elsewhere, they acknowledge that competition is making acoustics revenue growth unpredictable, but still cite 11% March-quarter growth as a positive. Jarden cuts its target price on the stock 25% to A$169.00 and maintains a neutral rating. Shares are down 1.4% at A$98.19. ([email protected])

0104 GMT - Cochlear loses its buy rating at UBS, where analysts see limited scope for the hearing-implant maker to lift annual sales growth back to 10% any time soon. Cutting their recommendation to neutral, the investment bank's analysts tell clients that a drop in U.S. unit sales at a time when Cochlear is releasing a new implant into a vast underpenetrated adult market is a clear negative. They say that overburdened European health systems and reimbursement cuts in China add to the pressure on sales. The analysts warn that the challenges facing the Australian company are entrenched, with earnings visibility at a post-Covid low. UBS slashes its target price 64% to A$109.00. Shares are down 2.2% at A$97.40. ([email protected])

0056 GMT - Bank of Queensland gets a new bear at Macquarie amid the downside risk of higher credit provisions and continued loss of market share. Cutting their recommendation on the stock to underperform from neutral, one of the investment bank's analysts tells clients in a note that there are limited near-term catalysts for the Australian regional lender. They write that BOQ is focused on moving its lending toward higher-returning segments such as commercial but that returns are likely to remain under pressure. The note adds that management's risk management means that capital returns are skewed toward buybacks rather than special dividends. Macquarie cuts its target price 5% to A$5.70. Shares are down 0.1% at A$6.605. ([email protected])

0039 GMT - Cochlear's decision to cut manufacturing and accelerate restructuring should help support margins, but the outlook remains unclear, according to Macquarie analysts. They are positive on the hearing-implant maker's decision to shrink manufacturing output by more than the fall in sales, telling clients in a note that this will reduce inventory. However, they warn that hearing care has been deprioritized by U.S. consumers and European healthcare systems, and see the risk that weak consumer sentiment could also weigh on processor upgrade volumes. Macquarie cuts its target price 52% to A$115.00 and stays neutral on the stock, which is down 1.1% at A$98.51. ([email protected])

0633 GMT - Cochlear's bull at Jefferies slashes their target price on the hearing-implant maker's guidance downgrade while thinking market volumes can recover over the longer term. Analyst David Stanton tells clients in a note that the investment bank's channel checks suggest that health insurers in developed and developing markets are under pressure, which leads to delays in demand for implants. Stanton points out that insurers in developed markets are increasing deductibles, while many patients see implantation as a semi-elective procedure that can be delayed. Jefferies cuts its target price 52% to A$137.00 and keeps a buy rating on the stock, which closed 41% lower at A$99.58. ([email protected])

(END) Dow Jones Newswires