“An Australian Registrars’ National Electronic Conveyancing Council (ARNECC) ministerial forum has seen State and Territory ministers announce that aspects of the e-conveyancing interoperability program are beyond their remit,” Raymond said.
“The interoperability program has subsequently been paused.
“The announcement is obviously a clear positive for PEXA, and will likely push back the timeline for interoperability, and competition in the property settlement space, which was slated for late 2025.
“Together with the announcement of the recent deal with Natwest, this update has been favourable for PXA’s overall story, in our view.
“However, we see the stock trading on approximately 33x financial year 2024F earnings before interest, tax, depreciation and amortisation (EBITDA) as fair value at current levels suggest growth-oriented investors put PXA on their watchlist, and consider buying below $13,” Raymond said.

 PEXA (PXA)

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