Australian wholesaler Metcash gains despite UBS PT trim

Metcash

28/11/2023 24:21

** Analysts at UBS lower price target on Australia's Metcash
 MTS.AX  to A$4.25 for A$4.50
    ** Metcash shares up 1% at A$3.7
    ** Food sales at the wholesaler are slowing due to a decline
in tobacco sales and volume, analysts say
    ** UBS expects co to post 1H EBIT of A$250.6 mln ($165.60
mln), reflecting an around 2% drop on pcp
    ** Brokerage retains "buy" rating on stock
    ** Metcash stock down 8.8% this year, as of last close 

   ($1 = 1.5133 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))