0035 GMT - Temple & Webster's first-half result gives its bulls at Morgan Stanley even more confidence that the Australian furniture retailer can achieve all its targets. They trim their revenue forecasts following a slightly soft start to the latest fiscal half, but still anticipate annual revenue of A$897.8 million by fiscal 2027. That's within touching distance of Temple & Webster's A$1 billion mid-term target. They tell clients in a note that factors including growing AI capabilities, balance-sheet strength and the home-improvement opportunity open to the company aren't reflected in the share price. MS lifts its target price by 41% to A$18.50 and keeps an overweight rating on the stock. Shares are up 7.7% at A$17.38. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 13, 2025 19:35 ET (00:35 GMT)
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