Macquarie Stays Cautious on Super Retail Amid Macro Challenges -- Market Talk

Dow Jones05-14

0156 GMT - Super Retail Group's latest trading update doesn't move the dial for Macquarie analysts, who remain cautious on the stock due to the challenging conditions for consumer-facing companies. They write in a note to clients that Super Retail's fiscal year-to-date sales growth of about 2% fell short of their 2.8% forecast, but warm to strength in the company's various loyalty programs. Macquarie trims EPS forecasts for the company by 1.5% for FY 2024, by 1.4% for FY 2025 and by 1.1% for FY 2026 following the update. It cuts the stock's target price 14% to A$13.80 but stays neutral. Shares are down 0.4% at A$13.395. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 13, 2024 21:56 ET (01:56 GMT)

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