Macquarie lowers PT on New Zealand's Briscoe Group

Briscoe

12/03/2025 22:51

** Analysts at Macquarie trim price target on New Zealand's Briscoe Group BGP.NZ to A$5.02 from A$5.05; maintain "out-perform" rating on stock

** Brokerage says the firm's outlook comments were cautious with co hopeful that it can protect FY25 net profit after tax levels

** BGP continues to outperform peers, but is not immune to underlying weak macroeconomic factors - Macquarie

** Brokerage says BGP has seen considerable gross profit margin contraction

** Expects improving economic conditions for co over the next 12 months

** Stock down 7% YTD

 (Reporting by Rishav Chatterjee in Bengaluru)

 ((Rishav.Chatterjee@thomsonreuters.com;))