0024 GMT - Ebos's pharmacy business was the standout of its 1H result, undermining the investment case of stock bears, Forsyth Barr says. Negative views toward Ebos have centered on the loss of the Chemist Warehouse contract to Sigma Healthcare, and 60-day dispensary changes creating a challenging backdrop for Community Pharmacy growth and margins, analyst Matt Montgomerie says. However, Ebos looks set to beat its original A$300 million target for pharmacy customer wins. Sales at its Terry White business are also up 11%, indicating it has gained market share, Forsyth Barr says. "We remain confident Ebos will hit the top end of its Ebitda guidance range," says Forsyth Barr, upgrading the stock to outperform from neutral. Ebos's New Zealand-listed shares are down 0.8%. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 19, 2025 19:24 ET (00:24 GMT)
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