Goldman Sachs upgrades ASX rating to Neutral

The article mentions ASX Limited and reports that Goldman Sachs has upgraded the company's rating from Sell to Neutral, saying ASX's first-half 2026 results look "relatively de-risked" while noting some medium-term and regulatory risks.

Goldman Sachs has changed its rating on ASX Limited from Sell to Neutral, the article reports. The bank describes ASX's first-half 2026 results as looking "relatively de-risked." It cites a clearer picture for revenue, expenses, capital expenditure and depreciation and amortisation. The article also notes that some medium-term expense and regulatory uncertainty remains. Key points: - The article mentions ASX Limited and reports an upgrade by Goldman Sachs from Sell to Neutral. - Goldman Sachs describes ASX's revenue environment, expenses, capital expenditure and depreciation and amortisation profile as "relatively well understood" and says first-half 2026 results look "relatively de-risked." - The article notes Goldman Sachs still sees medium-term risks around expenses for fiscal year 2027 and beyond. - The article refers to "some remnant regulatory risks" related to historical CHESS replacement disclosures. - The article reports Goldman Sachs observed ASX's activity and pricing environment is looking favourable while the company's valuation has de-rated. - The piece was generated with AI support and reviewed by an editor. Summary: Goldman Sachs' upgrade reflects a view that ASX's near-term results are less uncertain while the bank continues to flag medium-term expense and regulatory risks. Undetermined at this time.