Peet Looks Deeply Undervalued to Bull Following Guidance Upgrade -- Market Talk

Dow Jones
05/29
 

2330 GMT - Peet's latest profit upgrade helps to cement Euroz Hartley's "buy" call on the homebuilder's stock. Peet now expects FY26 net profit of A$98 million-A$100 million. That's up from prior guidance of A$86 million-A$90 million. Euroz Hartleys raises its price target by 12% to A$3.09/share. Peet ended Thursday at A$1.73. Analyst Gavin Allen says a share price around Thursday's close and a price-to-earnings multiple of 8x following the latest guidance upgrade require a "pretty grim, sentimental view" of Peet's future prospects. It's one that Euroz Hartleys doesn't share. "This is not because we are ignoring interest rates, or inflation, or economic uncertainty, it is merely placing these factors in the context of a housing supply shortage," Euroz Hartleys says. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

May 28, 2026 19:30 ET (23:30 GMT)

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