Temple & Webster Group Ltd (TPW.AU) surged 5.05% intraday on Friday, recovering from a recent selloff that followed a disappointing sales update.
The rally was driven by UBS upgrading its recommendation on the stock to neutral from sell, citing a more reasonable valuation after the sharp decline. Analysts noted that the earlier selloff was due to broader consumer demand softening rather than company-specific issues, and the stock now appears fairly priced. UBS cut its target price to A$14.80, but the stock traded higher at A$14.92 during the session.
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