0051 GMT - Brambles' softer-than-expected 3Q leaves the global pallet provider with a lot to do if it is to meet its annual sales and earnings guidance, Morgan Stanley analyst Andrew G. Scott writes in a note. He tells clients that softer like-for-like volumes on adverse U.S. weather and macro-economic headwinds mean that Brambles requires a June-quarter improvement in order to hit its narrowed guidance range for 4%-5% sales growth. With economic conditions apparently worsening, Scott thinks that investors are likely to see risks tilted toward the downside. MS has a last-published overweight rating and A$22.00 target price on the stock, which is up 1.1% at A$20.045. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 20:51 ET (00:51 GMT)
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