0113 GMT - Propel Funeral Partners' trio of New Zealand acquisitions get a positive reception from its bull at Macquarie. After digging through the details, one of the investment bank's analysts raises their revenue forecasts for fiscal 2027 and fiscal 2028 by about 3%. Earnings growth forecasts also rise, albeit from a lower base as weaker-than-expected guidance drives a 6.2% cut to Macquarie's underlying earnings forecast for the current fiscal year. Nonetheless, the analyst's note suggests that industry volumes and margins are likely to improve from this point, and flags Propel's continued capacity for EPS-accretive acquisitions. Macquarie trims its target price 4.3% to A$5.50 and keeps an outperform rating on the stock, which is down 3.9% at A$3.25. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 04, 2026 21:13 ET (01:13 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.