BUZZ-Australia's Audinate falls tracking weaker tech stocks; Macquarie lowers PT

Reuters
10 Feb
BUZZ-Australia's Audinate falls tracking weaker tech stocks; <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> lowers PT

** Shares of technology co Audinate AD8.AX fall 3.7% to A$7.07, tracking losses in Australian tech stocks .AXIJ

** Audinate is the second-biggest loser on the sub-index, which is down 1.3%

** The sub-index's performance is in tandem with Wall Street losses after U.S. President Donald Trump said he plans to announce reciprocal tariffs .N

** Macquarie lowers price target to A$7.70 from A$10.2, retains 'neutral'

** Says the cut reflects lowered earnings outlook for the next three years, accounting for lower sales and negative operating leverage

** Two analysts rate Audinate "buy", 5 "hold"; their median PT is A$9.23, according to data compiled by LSEG

** Stock fell 54.2% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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