0044 GMT - Pharmacy group Ebos's disappointing FY 2025 result costs it a bull. Forsyth Barr downgrades Ebos to neutral from outperform, and cuts its price target by 19% to NZ$37.25 after making material reductions to its earnings forecasts and projecting higher capex. Analyst Matt Montgomerie says the drivers of Ebos's softer-than-expected result and outlook commentary don't appear to be structural. Forsyth Barr still sees Ebos as positioned for medium-term growth. "But at 23x our revised 12-month forward EPS with a high single-digit three-year forward EPS compound annual growth rate, we don't see valuation upside to retain outperform," Forsyth Barr says. Ebos is down 5.5% at NZ$32.00. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
August 27, 2025 20:44 ET (00:44 GMT)
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