2152 GMT - Supply Network loses a bull in Ord Minnett despite an upbeat 1H result featuring an 18% rise in sales and more market share gains. Ord Minnett downgrades Supply Network to accumulate, from buy, citing the stock's strong share-price performance recently. Despite that downgrade, analyst James Casey remains confident that Supply Network is on a pathway to more growth. "We forecast double-digit EPS growth in the next three years," says Ord Minnett. "We also expect further improvement in Supply Network's return on capital employed in FY 2025 and FY 2026, as the company leverages recently opened facilities and branches." Supply Network's share price is up some 25% since late November. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 02, 2025 16:52 ET (21:52 GMT)
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