0139 GMT - Macquarie's bull at Jefferies expects materially stronger first-half revenues from the financial group's commodities and global markets unit. Keeping a buy rating on the stock, analyst Andrew Lyons points out that strong trading conditions flagged at July's annual general meeting continued through the remainder of the Australian company's fiscal first half. Lyons tells clients in a note that his first-half net profit forecast sits about 13% ahead of consensus, which he says materially de-risks the second-half skew relative to both market expectations and prior performance. Jefferies raises its target price on the stock by 0.1% to 284.34 Australian dollars. Shares are up 2.0% at A$244.34.
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