Australia's Endeavour hits record low as Citi downgrades to 'neutral', flags near-term challenges

Endeavour

26/03/2026 23:32

Updates

** Shares of Australian Endeavour Group EDV.AX fall as much as 3.5% to A$3.280, hitting record low

** Citi downgrades rating on EDV to "neutral" from "buy"

** Flags near-term sales being adversely impacted by higher interest rates, petrol prices and higher inflation

** Says pressure on household budgets may result in lower alcohol consumption and dining out, impacting both retail and hotels divisions of company

** EDV could also be impacted by higher freight costs — Citi

** Citi cuts FY26 net profit after tax estimate by 2%, lowers FY27 and FY28 NPAT estimates by 1%

** Four of 15 analysts rate the stock "buy" or higher, six "hold" and five "sell" or lower; median PT is A$3.65 — data compiled by LSEG

** Shares down 9.6% YTD, including day's moves

(Reporting by Aamir Sheik Khalid & Rajasik Mukherjee in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))