Deep Field had his colours lowered for the second time with the Joe Pride-trained Target In Sight getting his measure at Rosehill.
The beaten favourite in the Lightning Stakes won by Lankan Rupee, Deep Field was sent out at $1.50 in Saturday's Group Three Maurice McCarten Stakes (1100m).
With I'm All The Talk and Kencella burning the turf, Deep Field and Target In Sight led the rest of the pack around the turn and had the drop on the front runners.
Under James McDonald, Target In Sight ($5) took the lead halfway down the straight and held off Deep Field by a neck.
Jason Abrahams, the principal of Target In Sight's owners Champion Thoroughbreds, admitted he thought they were running for second after opting not to run him in the Canterbury Stakes.
"We were going to run last week but it looked a bit strong," Abrahams said.
"Today when we saw Deep Field we thought we were running for second again.
"The speed suited him and we told James he would keep coming at the end.
"We will look at the Hall Mark Stakes and he might be a good sort of horse to take to Brisbane in the winter. The speed of the races up there will suit him."
Deep Field's owner Alan Bell said he believed the four-year-old could still be a force over the autumn after his second defeat from seven starts.
Although Deep Field has led in the five races he has won, Bell said he could not have matched with the the leaders on Saturday.
"He couldn't have led that field so I think the tactics were right," he said.
"He's not quite there yet and has improvement.
"We will talk about where to go next but he will race on."