Updates
** Shares of Endeavour EDV.AX fall as much as 4.2% to a record low of A$4.310
** Stock also hit a record low on Monday, falling 4.9% on the day
** Citi cuts PT for the pub operator to A$4.89 from A$5.18; maintains "neutral" rating
** Macquarie reduces PT by ~17% to A$4.5, retains "neutral" rating; cuts EPS estimates by 16%, 8% and 8% for FY25, FY26 and FY27, respectively
** Citi cuts FY25 to FY27 NPAT estimates by 6%, driven by slower-than-expected retail sales and softer-than-expected retail margins
** Endeavour forecast H1 2025 retail operating EBIT margin in 7%-7.5% range on Monday vs 8% year ago
** Softer sales with greater promotional activity resulted in operating de-leverage, leading to the downgrade in 1H25E retail operating EBIT margin forecast - Macquarie
** Seven of 13 analysts rate the stock "buy" or higher, five "hold" and one "sell"; their median PT is A$5.03 – data compiled by LSEG
(Reporting by Sneha Kumar and Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com))
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