2312 GMT [Dow Jones]--Brambles' better-than-expected progress on resolving problems to its U.S. pallet repair network isn't enough to turn Macquarie's analysts bullish on the stock. A note from the investment bank says the CHEP brand owner's service-network turnaround has derisked its near-term outlook, but warns that execution pressure remains high due to soft market demand. They raise their fiscal 2027 forecasts to the lower end of company guidance but tell clients in a note that Brambles needs to keep winning new business and recovering costs. Macquarie stays neutral on the stock and raises its target price 13% to 21.50 Australian dollars. Shares are up 0.6% at A$21.35.
At the request of the copyright holder, you need to log in to view this content
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