** Jefferies says Australia's Endeavour Group's EDV.AX sales are driven by heavy discounting, denting co's liquor profit margins
** Flags soft liquor demand which prompted brokerage to taper long-term sales growth forecasts
** Brokerage cuts 2025 earnings per estimate forecast by 15% to A$0.23
** Also trims fair-value estimate for EDV by 11% to A$5.40 due to weaker long-term outlook on liquor consumption
** "Downgrade of Endeavour's sales and margins is due to our softer outlook for the overall industry, affecting all liquor retailers" - Jefferies
** Stock lost around 13% in 2025, up over 3% so far in 2026
(Reporting by Rajasik Mukherjee in Bengaluru)
((Rajasik.Mukherjee@thomsonreuters.com))