2330 GMT - Morgans downgrades Super Retail Group as discretionary spending in Australia comes under pressure. Morgans drops Super Retail to hold, from accumulate, and cuts its price target by 24% to A$12.90/share. "We lower our FY26-28 EPS forecasts by 6-7%, reflecting a more cautious view on the consumer discretionary environment," analyst Jared Gelsomino says. Morgans pares expectations for margins and like-for-like sales across Super Retail's businesses. It now projects 2% same-store sales growth for Supercheap Auto and 1% growth for rebel, with BCF's sales seen declining 1.5%. "We view Supercheap Auto as best placed within the group given its relatively defensive exposure, whilst we are more cautious on rebel and BCF given their greater sensitivity to the economic cycle and affordability pressures," Morgans says. Super Retail ended Monday at A$12.67. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

April 20, 2026 19:30 ET (23:30 GMT)

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