0134 GMT - JB Hi-Fi shares' recent retreat from a record secures the Australian entertainment retailer a new bull at Bell Potter. Analyst Chami Ratnapala raises her recommendation to buy from hold, with the stock having retreated 16% between early February and the end of Monday's session. She makes no changes to her forecasts, but tells clients in a note that she expects JB Hi-Fi's 3Q trading update will show sales growth close to the level seen early in the period. She acknowledges headwinds from a weak Australian dollar, economic uncertainty and promotional activity, but sees further central-bank rate cuts supporting consumer demand from next month. Bell Potter keeps a A$99.00 target price on the stock, which is up 5.5% at A$95.32. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 09, 2025 21:34 ET (01:34 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。