Brokerages upbeat on Australia's Metcash post HY results

Metcash

02/12/2024 20:49

** Analysts see upside for Aussie retailer Metcash  MTS.AX 
after its half-year results
    ** Citi analysts upgrade stock to "buy" from "neutral", up
PT to A$3.70 from A$3.40
    ** MTS on Monday reported underlying net profit after tax
(NPAT) of A$134.6 mln ($87.19 mln)
    ** Citi says while NPAT was in line with guidance, Food
business earnings were more resilient than expected
    ** "Food margin very strong despite disinflation and
increasing competitive intensity," Jefferies says
    ** Six of 12 analysts rate stock "buy" or higher, five
"hold" and one "sell"; their median PT is A$3.60 – LSEG data
    ** Stock down 8.6% YTD, based on last close
    
    
    

($1 = 1.5437 Australian dollars)

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