Jefferies cuts PT on Australia's Metcash, sees headwinds

Metcash

04/12/2023 22:15

** Jefferies sees Australia's Metcash  MTS.AX  facing
headwinds in future   
    ** Brokerage says co's HY NPAT was a 4% miss to brokerage's
estimates 
    ** Jefferies cuts price target to A$3.60 from A$3.80, keeps
rating at "hold" 
    ** Brokerage sees challenging backdrop in Hardware & Tools
segment putting co's margins under pressure
    ** Headwinds are unlikely to dissipate quickly and will be
compounded by rising interest cost- Jefferies 
    ** Five of 11 analysts rate the stock "buy" or higher, four
"hold" and two "sell" ; their median PT is A$3.95 – LSEG data
    ** As of last close, stock had fallen 9.8% this year

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))