Peet (ASX:PPC) muted share response after its upgrade likely reflects easing market expectations for further interest-rate cuts, according to a Thursday note by Euroz Hartleys.
In November, the company said it expects fiscal year 2026 net profit after tax of between AU$74 million and AU$78 million, representing growth of 26% to 34% compared with 2025, supported by strong operational performance and favourable macroeconomic conditions.
Euroz maintained the company's buy rating but raised its price target to AU$2.56 from AU$2.24.
Shares of the company fell 3% at market close.