Brambles' Buyback Is Not a Total Surprise -- Market Talk

Dow Jones09:42

0142 GMT - Brambles' new US$400 million buyback is seen as a positive by its bull at RBC, albeit one that was expected to happen eventually. Analyst Owen Birrell tells clients in a note that the CHEP pallet operator that the market had been looking for it to reload its on-market buyback in August, when Brambles is scheduled to announce its FY 2026 result. As for Brambles' guidance downgrade, Birrell says it is unfortunate that service-center issues have arisen just as the company was experiencing positive momentum in organic volume growth. That had been the market's major concern, he adds. RBC has a last-published outperform rating and A$29.75 target price on the stock, which is down 18% at A$18.075. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

May 17, 2026 21:42 ET (01:42 GMT)

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As for Brambles' guidance downgrade, Birrell says it is unfortunate that service-center issues have arisen just as the company was experiencing positive momentum in organic volume growth. That had been the market's major concern, he adds. RBC has a last-published outperform rating and A$29.75 target price on the stock, which is down 18% at A$18.075. 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