0022 GMT - Temple & Webster's bull at Citi thinks that the furniture retailer is on course to meet the market's expectations for June-half sales. Analyst Sam Teeger sees an acceleration in on-year sales growth from 16% at the start of the period to 23% for March 1-May 5 as positive, and tells clients in a note that consensus forecasts for 22% on year growth for the full six months are reasonable. Teeger is a little more conservative, and is looking for 20%. The sales momentum is particularly pleasing given that housing market indicators have yet to materially improve, he adds. Citi has a buy rating and A$21.10 target price on the stock, which is down 2.4% at A$16.81. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 06, 2025 20:22 ET (00:22 GMT)
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