Metcash Loses Bull as Hardware Business Struggles -- Market Talk

Dow Jones10-28

2129 GMT - Metcash's disappointing trading update costs it a bull. Jefferies downgrades Metcash to hold, from buy, and lowers its price target by 17% to A$3.40/share on weakness in the hardware business. Subdued building activity has weighed on higher-margin trade sales in its stores. "While we continue to believe in the long term prospects for Hardware & Tools, conditions are still deteriorating and the earnings trough could deepen," analyst Michael Simotas says. Jefferies also thinks Metcash's food and liquor business is likely to face stronger headwinds. Metcash ended last week at A$3.19. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

October 27, 2024 17:29 ET (21:29 GMT)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2478914731?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-10-28 05:29","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2478914731","market":"other","top_or_hot":-1,"title":"Metcash Loses Bull as Hardware Business Struggles -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     2129 GMT - Metcash's disappointing trading update costs it a bull. Jefferies downgrades Metcash to hold, from buy, and lowers its price target by 17% to A$3.40/share on weakness in the hardware business. Subdued building activity has weighed on higher-margin trade sales in its stores. \"While we continue to believe in the long term prospects for Hardware &amp; Tools, conditions are still deteriorating and the earnings trough could deepen,\" analyst Michael Simotas says. Jefferies also thinks Metcash's food and liquor business is likely to face stronger headwinds. Metcash ended last week at A$3.19. (david.winning@wsj.com; @dwinningWSJ) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  October 27, 2024 17:29 ET (21:29 GMT)\n</p>\n<p>\n  Copyright (c) 2024 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>Metcash Loses Bull as Hardware Business Struggles -- 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\">\nMetcash Loses Bull as Hardware Business Struggles -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-10-28 05:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2129 GMT - Metcash's disappointing trading update costs it a bull. Jefferies downgrades Metcash to hold, from buy, and lowers its price target by 17% to A$3.40/share on weakness in the hardware ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK7028","symbol_name":"食品分销商","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2478914731","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2478914731","pubTimestamp":1730064540,"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":"2129 GMT - Metcash's disappointing trading update costs it a bull. Jefferies downgrades Metcash to hold, from buy, and lowers its price target by 17% to A$3.40/share on weakness in the hardware business. Subdued building activity has weighed on higher-margin trade sales in its stores. \"While we continue to believe in the long term prospects for Hardware & Tools, conditions are still deteriorating and the earnings trough could deepen,\" analyst Michael Simotas says. Jefferies also thinks Metcash's food and liquor business is likely to face stronger headwinds. Metcash ended last week at A$3.19. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK7028":"食品分销商","MTS.AU":"METCASH LTD"},"translate_title":"由于硬件业务陷入困境，Metcash失去了牛市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"MTS.AU":0.9},"content_text":"2129 GMT - Metcash's disappointing trading update costs it a bull. Jefferies downgrades Metcash to hold, from buy, and lowers its price target by 17% to A$3.40/share on weakness in the hardware business. Subdued building activity has weighed on higher-margin trade sales in its stores. \"While we continue to believe in the long term prospects for Hardware & Tools, conditions are still deteriorating and the earnings trough could deepen,\" analyst Michael Simotas says. Jefferies also thinks Metcash's food and liquor business is likely to face stronger headwinds. Metcash ended last week at A$3.19. (david.winning@wsj.com; @dwinningWSJ) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  October 27, 2024 17:29 ET (21:29 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"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":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2478914731"}