0242 GMT - Australian supermarket supplier Metcash has everything it needs to start demonstrating its strong operating leverage other than a near-term catalyst, Jarden analysts write in a note. They remain bullish on the stock on valuation and tell clients that operating leverage will be greater than the market appreciates, once the housing cycle turns. For now, Metcash's hardware business is still weighing on performance. Jarden's analysts think the construction market will bottom in the first half of 2025, raising the possibility of a rise in hardware demand in 2026. Jarden cuts its target price 4.7% to A$4.10 and keeps a buy rating on the stock. Shares are up 6.1% at A$3.385. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 02, 2024 21:42 ET (02:42 GMT)
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