0230 GMT - Bendigo & Adelaide Bank still isn't offering anything to UBS analysts that would justify a rerating of its stock. With an unchanged neutral rating on the stock, the analysts say the Australian bank is improving operationally without presenting a catalyst for them to become more bullish. The UBS analysts tell clients in a note that fiscal 2027 will be a harder year for the regional lender, pointing to the overhang of regulatory scrutiny and emerging pressure on mortgage margins. Quicker progress by the bank on reducing costs or hitting its return-on-equity target would be catalysts for a more positive view, they add. UBS cuts its target price by 7.1% to 10.50 Australian dollars. Shares are up 3.4% at A$10.81.
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