Citi lowers TP, rating on Australia's JB Hi-Fi over weak sales

JB Hi-Fi

17/08/2026 19:37

** Analysts at Citi downgrade JB Hi-Fi JBH.AX stock to "neutral" after co's FY26 EBIT misses Visible Alpha estimates
** Brokerage lowers target price for stock to A$77.00/shr
** The electronic retailer said total sales at its core Australian business fell 0.5% in July on Monday
** Citi notes like-for-like sales growth decline in July indicate that investors can no longer bank on co generating positive sales growth through the cycle
** Brokerage cuts FY27-FY28 EBIT forecast estimates by around 5-8% on lower sales and some operating deleverage
** "We also think the stock will lack interest from momentum investors given the sales deterioration" - Citi
** JBH stock down 25.5% YTD, as of last close

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((shivangi.lahiri@thomsonreuters.com))