Australia's Beacon Lighting gains; Jarden raises PT, earnings estimate

Beacon Lighting

23/10/2024 01:21

** Shares of Australia's Beacon Lighting Group  BLX.AX  rise
1.7% to A$2.94
    ** Analysts at Jarden raise PT on co to A$3 from A$2.7
    ** Brokerage says co's AGM update points to a continuation
of store sales momentum into 1Q 2025, largely driven by growth
in trade and e-commerce
    ** Says co continues to gain market share in trade in a
challenging local housing market where sales remain soft
    ** Lifts FY26 and FY27 EBIT estimates by 1%-2%, respectively
    ** Stock has risen 24.6% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com))