0025 GMT - Brambles' bull at UBS gives four reasons for the global pallet giant's continued status as his relative pick of Australian transport stocks. Analyst Andre Fromyhr acknowledges that a U.S. or global recession would be negative for Brambles, but nonetheless retains a buy rating on the stock. He tells clients in a note that Brambles' large exposure to consumer staples mean that its volumes should prove relatively resilient. Lumber is currently exempt from U.S. tariffs, which is helpful to Brambles' input costs, and Fromyhr points out that a softAustralian dollar should help support valuation. Finally, valuation multiples are not stretched, he adds. UBS keeps a A$22.80 target price on the stock, which is up 0.55% at A$19.93. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 07, 2025 20:25 ET (00:25 GMT)
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