** Jefferies initiates coverage on online homewares and furniture (H&F) retailer Temple & Webster TPW.AX with "underperform" rating and A$17.0 PT
** Brokerage says TPW had a first-mover advantage in online furniture space but flags maintaining market leadership will be a challenge to due to intensifying competition
** Says valuation metrics appears to be demanding with TPW's shares trading 29% above Jefferies PT
** Jefferies is "cautious on TPW's ability to penetrate Trade and Home Improvement, given both may require a shift in the business model"
** However, Jefferies sees H&F sales to accelerate due to the rate-cut cycle in Australia and strong consumer confidence at a 32-month high
** Analysts on average rate the stock "buy"; their median PT is A$19.0 – LSEG data
** Stock up nearly 63% pct this year
(Reporting by John Biju in Bengaluru, editing by Deepa Babington)
((John.Biju@thomsonreuters.com;))
免責聲明:投資有風險,本文並非投資建議,以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請,作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考,不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證,投資者應自行研究並在投資前尋求專業建議。