Solid liquor and food sales to offset poor hardware market for Metcash

Metcash

16/04/2023 20:23

** Analysts at Morningstar expect group sales to rise by 4%
in the second half of fiscal 2023 for Australia's Metcash
 MTS.AX  
    ** Brokerage sees 'solid' liquor and food sales growth
offsetting poor hardware sales in the second half; estimates 6%
jump in group sales for FY23
    ** Sees Metcash as the most attractive consumer defensive
stock in Australia followed by Endeavour  EDV.AX , Coles Group
 COL.AX  and Woolworths  WOW.AX  
    ** Expects sales growth to moderate into long-term
maintainable annual growth of 4% from FY24; keeps fair value
estimate unchanged at A$3.80
    ** Six of 12 analysts rate MTS "buy" or higher, three "hold"
and three "sell"; their median price target is A$4.30– Refinitiv
data
    ** MTS shares have risen 0.5% this year, as of last close

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Emelia
Sithole-Matarise)
 ((Rishav.Chatterjee@thomsonreuters.com;))