BUZZ-Australia's Propel Funeral Partners falls despite Macquarie hiking PT

Reuters
02-11
BUZZ-Australia's Propel Funeral Partners falls despite <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> hiking PT

** Shares of Propel Funeral Partners <PFP.AX> fall 1% to A$5.9

** Macquarie flags lower-than-expected deaths reported in birth, death, and marriage $(BDM.AU)$ records for the half-year

** However, brokerage hikes price target on stock to A$7.15 from A$7.00, saying it expects co to ramp up acquisitions in CY25

** Also believes co has sufficient capacity to fund acquisitions; retains 'outperform' rating

** Four analysts rate the stock "buy", 2 "hold"; their median PT is A$6.30, according to data compiled by LSEG

** Stock rose 13.8% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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