Harvey Norman Loses Bull as Housing Outlook Dims -- Market Talk

Dow Jones

Nov 27, 2025

2358 GMT - Harvey Norman is downgraded to neutral from outperform by Macquarie, following its share price rally and a dimming Australian housing outlook. Macquarie says a meaningful improvement in new detached housing is key to momentum within Harvey Norman's Australian business. However, additional interest-rate cuts look unlikely as inflationary pressures reignite. Macquarie says some support for sales is coming from consumers replacing old technology with new products, but "the potential for further upside surprises as more limited." Harvey Norman's share price is up more than 40% over the past 12 months, and Macquarie says risk and reward for investors have become more balanced. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

November 26, 2025 18:58 ET (23:58 GMT)

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Macquarie says a meaningful improvement in new detached housing is key to momentum within <a href=\"https://laohu8.com/S/HNORY\">Harvey Norman</a>'s Australian business. However, additional interest-rate cuts look unlikely as inflationary pressures reignite. Macquarie says some support for sales is coming from consumers replacing old technology with new products, but \"the potential for further upside surprises as more limited.\" <a href=\"https://laohu8.com/S/HVN.AU\">Harvey Norman</a>'s share price is up more than 40% over the past 12 months, and Macquarie says risk and reward for investors have become more balanced. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 26, 2025 18:58 ET (23:58 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Harvey Norman Loses Bull as Housing Outlook Dims -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHarvey Norman Loses Bull as Housing Outlook Dims -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-11-27 07:58</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2358 GMT - <a href=\"https://laohu8.com/S/HNORF\">Harvey Norman</a> is downgraded to neutral from outperform by <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a>, following its share price rally and a dimming Australian housing outlook. Macquarie says a meaningful improvement in new detached housing is key to momentum within <a href=\"https://laohu8.com/S/HNORY\">Harvey Norman</a>'s Australian business. However, additional interest-rate cuts look unlikely as inflationary pressures reignite. Macquarie says some support for sales is coming from consumers replacing old technology with new products, but \"the potential for further upside surprises as more limited.\" <a href=\"https://laohu8.com/S/HVN.AU\">Harvey Norman</a>'s share price is up more than 40% over the past 12 months, and Macquarie says risk and reward for investors have become more balanced. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 26, 2025 18:58 ET (23:58 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7041","symbol_name":"综合货品商店","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2586296096","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2586296096","pubTimestamp":1764201480,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2358 GMT - Harvey Norman is downgraded to neutral from outperform by Macquarie, following its share price rally and a dimming Australian housing outlook. Macquarie says a meaningful improvement in new detached housing is key to momentum within Harvey Norman's Australian business. However, additional interest-rate cuts look unlikely as inflationary pressures reignite. Macquarie says some support for sales is coming from consumers replacing old technology with new products, but \"the potential for further upside surprises as more limited.\" Harvey Norman's share price is up more than 40% over the past 12 months, and Macquarie says risk and reward for investors have become more balanced. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7041":"综合货品商店","HVN.AU":"HARVEY NORMAN HOLDINGS LTD","BK7153":"综合零售"},"translate_title":"随着房地产前景黯淡，哈维·诺曼失去了牛市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HVN.AU":0.9},"content_text":"2358 GMT - Harvey Norman is downgraded to neutral from outperform by Macquarie, following its share price rally and a dimming Australian housing outlook. Macquarie says a meaningful improvement in new detached housing is key to momentum within Harvey Norman's Australian business. However, additional interest-rate cuts look unlikely as inflationary pressures reignite. Macquarie says some support for sales is coming from consumers replacing old technology with new products, but \"the potential for further upside surprises as more limited.\" Harvey Norman's share price is up more than 40% over the past 12 months, and Macquarie says risk and reward for investors have become more balanced. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 26, 2025 18:58 ET (23:58 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}