0353 GMT - Brambles may have already locked in the majority of the new business wins the pallet provider needs to achieve its annual earnings guidance, Citi analyst Samuel Seow says. With economic uncertainty keeping a lid on like-for-like volumes, Seow reckons that the Australia-listed company's guidance implies material 4%-5% growth in net new wins for the June quarter. He acknowledges in a note to clients that this might seem optimistic, but explains that the ramp-up time between conversion and transacting for new customers suggests that Brambles should have much of the increase already in the bag. Citi keeps a neutral rating and A$20.15 target price on the stock, which is up 1.1% at A$20.04. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 23:53 ET (03:53 GMT)
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