0042 GMT - Temple & Webster's bulls at Morgan Stanley reckon that the furniture retailer's home-improvement sales could eventually match those from its core business. MS analysts tell clients in a note that the fast-growing home-improvement business, which they expect to account for about 7% of fiscal 2025 group revenue, is highly complementary to the online specialist's furniture offering. They note that management is replicating a proven strategy, and could ramp up quickly given leverage to existing resources and cross-sell opportunity. MS raises its target price 51% to A$28.00 and keeps an overweight rating on the stock. Shares are up 0.9% at A$22.04. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 18, 2025 20:42 ET (00:42 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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