BUZZ-Brokerages upbeat on Australia's Metcash post HY results

Reuters
2024-12-03
BUZZ-Brokerages upbeat on Australia's Metcash post HY results

** 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;))

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