Temple & Webster Group Expected to be Impacted by Rate Pause, Says Jefferies

MT Newswires Live11-17

Temple & Webster Group (ASX:TPW) may show impacts of paused rate cuts in its upcoming annual general meeting, as the company previously said that interest rate cuts and supportive housing policies would help the furniture and homewares category, according to a Friday Jefferies note.

Jefferies remains cautious heading into the Nov. 26 annual general meeting, given shifting macro conditions.

The investment firm expects sales growth to moderate in the meeting's commentary, given the effect of the rate pause and the ongoing inflation and housing affordability problem in Australia.

Jefferies kept an underperform rating on TPW with a price target of AU$18.

Temple & Webster Group's shares fell almost 3% in recent Monday trade.

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