2331 GMT - Australian electronics retailer JB Hi-Fi keeps its bull at Macquarie on the expectation of continued earnings resilience. A Macquarie analyst note to investors posits that JB Hi-Fi's track record indicates that it can offset higher goods costs by managing its own operating costs. That said, persistent competition could weigh on gross profit, the analysts add. They point out that JB Hi-Fi's better-than-expected first-half momentum has continued into its fiscal second half, and see potential for a capital-management announcement in August thanks to what they call a pristine balance sheet. Macquarie raises its target price by 2.8% to A$111.00 and keeps an outperform rating on the stock. Shares are down 1.75% at A$96.07. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 10, 2025 18:31 ET (23:31 GMT)
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