0001 GMT - Propel Funeral Partners has enough funds to do more M&A, cementing Macquarie's outperform call on the stock. Propel Funeral Partners has roughly 10% of the market for funerals in Australia and New Zealand, which is less than half of its largest competitor, the bank says. "Acquisitions represent material upside risk to our forecasts, as we do not include any potential M&A," says Macquarie. Propel Funeral Partners has funding capacity of A$144 million, and its management has flagged A$40 million of acquisitions in FY 2025 isn't out of the ballpark. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 24, 2025 19:01 ET (00:01 GMT)
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