Australia's Adore Beauty jumps on potential new chair; Bell Potter upgrade

Adore Beauty

17/10/2025 01:34

Updates with share moves and appointment

** Shares of Australia's Adore Beauty Group ABY.AX gain as much as 7.5% to A$1.08; marks biggest intraday gain since late August

** Co
appoints
 Jason Murray as independent non-executive director, who will stand for election at November AGM

** Says if Murray is chosen, he will be elected chair to replace Marina Go

** Alongside, Bell Potter upgrades to "buy" from "hold"; keeps PT unchanged at A$1.25

** Says stock upgrade after ABY trading at far more attractive FY26 EV/EBIT multiple and expectations of positive trading update at AGM

** Broker positive due to solid FY26 earnings growth profile, future margin accretion and new strategy performing to plan

** Views combination of store rollout, private label and retail media contribution as key drivers to ABY's growth going forward

** Stock up 16.1.1% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com))