BUZZ-Australia's Brambles slips; Macquarie, JP Morgan lower earnings view

Reuters04-24

(Updates)

** Shares of Australia's Brambles fall as much as 3.1% to A$14.190, their lowest level since Jan. 19

** Analysts at Macquarie lower FY24 EBIT growth outlook on the pallets maker to 13%-14% range; keeps PT unchanged at A$16.25

** Say price momentum for co's products seeing a decline and volumes are yet to show rebound

** 3QFY24 result lacks the green shoots of volume growth, but lifted efficiency and improved cash generation creates value - Macquarie

** JP Morgan trims FY24/25 EPS estimates by about 2%; trims PT marginally to A$17.40 from A$17.60

** About 4.2 mln shares change hands, compared with the 30-day average volume of 3.3 mln

** Stock has risen 7.7% this year, as of last close

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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