Jefferies ups PT on Australia's Metcash after positive trading update

Metcash

12/03/2024 18:22

** Analysts at Jefferies are upbeat on Metcash  MTS.AX 
after trading update
    ** Brokerage raises its price target on the grocery
wholesaler to A$4.30 from A$4.00
    ** MTS says total food sales, excluding tobacco, increased
5% for the 10 months ended Feb 25
    ** "The business is being well managed and recent
acquisitions provide upside from the undemanding valuation" -
Jefferies
    ** Stock down 13.7% YTD, as of last close



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