BUZZ-Shares of Temple & Webster slide after Jefferies caution ahead of AGM

Reuters11-17
BUZZ-Shares of Temple & Webster slide after Jefferies caution ahead of AGM

** Shares of Australian retailer Temple & Webster TPW.AX fall as much as 4.4% to A$19.00, their lowest level since May 26

** Brokerage Jefferies flags concerns ahead of co's AGM on November 26

** Jefferies highlights that rate cuts have been paused, dampening expectations for consumer recovery benefiting the retailer's furniture and homewares segment

** Notes inflation and housing affordability challenges in Australia could moderate sales growth commentary during the AGM

** Jefferies cites TPW's high valuation metrics as reasons to remain cautious.

** Stock on track for a fourth-straight session of losses, if losses hold

** Stock currently down 1.1% at A$19.40

** Stock up 46.2% this year, including the day's move

(Reporting by Roushni Nair in Bengaluru)

((Roushni.Nair@thomsonreuters.com))

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