2159 GMT - Drinks-to-hotels group Endeavour loses a bull in Citi as consumer spending is squeezed. Citi downgrades Endeavour to neutral, from buy, and lowers its price target by 14% to A$3.70/share. "In the near term we are concerned about sales being adversely impacted by higher interest rates, petrol prices and higher inflation more generally putting downward pressure on household budgets," analyst Sam Teeger says. These may result in lower alcohol consumption and dining out, hurting Endeavour's retail and hotels divisions. Endeavour faces other headwinds, from an apparent structural decline in alcohol sales to higher freight costs. It may be difficult for Endeavour to pass on any cost rises to consumers, Citi says. Endeavour ended Thursday at A$3.40. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 26, 2026 17:59 ET (21:59 GMT)
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