Upside for Metcash's Hardware Business Could Be Limited -- Market Talk

Dow Jones

Dec 02, 2025

0227 GMT - Upside for Metcash's hardware business looks more limited by reduced expectations for Australian interest-rate cuts, according to Macquarie analysts. They tell clients in a note that demand at the supermarket supplier's hardware business, which includes the Total Tools retail chain, could be constrained by rates policy. They observe that hotter-than-expected inflation has implications for local interest rates, which economists had previously expected to fall further. Macquarie still sees hardware as the key source of earnings and valuation upside. The bank cuts its target price by 12.5% to A$3.50 and keeps a neutral rating on the stock, which is flat at A$3.36. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

December 01, 2025 21:27 ET (02:27 GMT)

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They tell clients in a note that demand at the supermarket supplier's hardware business, which includes the Total Tools retail chain, could be constrained by rates policy. They observe that hotter-than-expected inflation has implications for local interest rates, which economists had previously expected to fall further. Macquarie still sees hardware as the key source of earnings and valuation upside. The bank cuts its target price by 12.5% to A$3.50 and keeps a neutral rating on the stock, which is flat at A$3.36. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 21:27 ET (02:27 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>Upside for Metcash's Hardware Business Could Be Limited -- 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\">\nUpside for Metcash's Hardware Business Could Be Limited -- 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\">2025-12-02 10:27</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0227 GMT - Upside for Metcash's hardware business looks more limited by reduced expectations for Australian interest-rate cuts, according to <a href=\"https://laohu8.com/S/MQG.AU\">Macquarie</a> analysts. They tell clients in a note that demand at the supermarket supplier's hardware business, which includes the Total Tools retail chain, could be constrained by rates policy. They observe that hotter-than-expected inflation has implications for local interest rates, which economists had previously expected to fall further. Macquarie still sees hardware as the key source of earnings and valuation upside. The bank cuts its target price by 12.5% to A$3.50 and keeps a neutral rating on the stock, which is flat at A$3.36. (stuart.condie@wsj.com) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 01, 2025 21:27 ET (02:27 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":"MTS.AU","symbol_name":"METCASH LTD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2588088968","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2588088968","pubTimestamp":1764642420,"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":"0227 GMT - Upside for Metcash's hardware business looks more limited by reduced expectations for Australian interest-rate cuts, according to Macquarie analysts. They tell clients in a note that demand at the supermarket supplier's hardware business, which includes the Total Tools retail chain, could be constrained by rates policy. They observe that hotter-than-expected inflation has implications for local interest rates, which economists had previously expected to fall further. Macquarie still sees hardware as the key source of earnings and valuation upside. The bank cuts its target price by 12.5% to A$3.50 and keeps a neutral rating on the stock, which is flat at A$3.36. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"MTS.AU":"METCASH LTD","BK7028":"食品分销商"},"translate_title":"Metcash硬件业务的上涨空间可能有限——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MTS.AU":0.9},"content_text":"0227 GMT - Upside for Metcash's hardware business looks more limited by reduced expectations for Australian interest-rate cuts, according to Macquarie analysts. They tell clients in a note that demand at the supermarket supplier's hardware business, which includes the Total Tools retail chain, could be constrained by rates policy. They observe that hotter-than-expected inflation has implications for local interest rates, which economists had previously expected to fall further. Macquarie still sees hardware as the key source of earnings and valuation upside. The bank cuts its target price by 12.5% to A$3.50 and keeps a neutral rating on the stock, which is flat at A$3.36. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 01, 2025 21:27 ET (02:27 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":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}