Jefferies sees sales drag for Australia's Endeavour Group to be one-off

Endeavour

10/12/2024 22:51

** Analysts at Jefferies see one-off drag for Australia's
Endeavour Group  EDV.AX  from supply disruption         
    ** Retailer on Tuesday said a strike at Woolworths'  WOW.AX 
distribution centres has affected co's stock, resulting in an
A$25 mln ($15.95 mln) impact on sales to date
    ** Brokerage says while negative, and compounding tough
conditions, the drag on sales is one-off 
    ** "We ... don't see risk of future price investment to
restore demand (like we do for WOW), because EDV isn't suffering
same perception issues" — Jefferies
    ** Six of 13 analysts rate EDV "buy" or higher, six "hold"
and one "sell"; their median PT is A$4.95 — LSEG
    ** Stock down 17.9% YTD, as of last close




($1 = 1.5676 Australian dollars)

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com))