Temple & Webster keeps its bull at Macquarie despite near-term challenges from Australia's rising interest rates. An analyst note from the investment bank acknowledges that the online furniture retailer faces a difficult 2026 due to the impact on consumers of rising rates. Maintaining top-line growth at around 20% may increasingly require discounts that hit gross margin, the note says. However, the view at the investment bank remains that operating leverage and scale synergies will emerge over the longer term, alongside upside from capital distribution. Macquarie cuts its target price 43% to A$13.70 and keeps an outperform rating on the stock, which is up 3.3% at A$7.89. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

February 12, 2026 19:03 ET (00:03 GMT)

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