Citi trims PT, estimates for Australia's Endeavour Group on weakness in hotels segment
BUZZ-Citi trims PT, estimates for Australia's Endeavour Group on weakness in hotels segment ** Citi trims its group NPAT forecast for pub and bottle shops owner Endeavour Group EDV.AX by 2% in FY27 and by 1% each for FY28 and FY29
** "We trim our Hotel sales and margins forecasts because of slower than expected trading with high margin gaming revenue particularly impacted" - Citi
** EDV's better-than-expected retail momentum offsets hotels segment weakness, says brokerage
** As a result of earnings changes, Citi trims target price for EDV by 1% to A$3.85
** EDV on Friday reported first-quarter hotels segment sales growth of 1.9% below Visible Alpha consensus estimate of 2.1%
** Two of 14 analysts rate the stock "buy" or higher, three "hold" and nine "sell" or lower; their median PT is A$2.88 – LSEG data
** Stock down 6.3% this year, as of last close
(Reporting by Sherin Sunny in Bengaluru)
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