JB Hi-Fi (ASX:JBH) reported improved trends in the first quarter, with market share increasing despite "deteriorating" household goods sales, Jarden Research said in an Oct. 31 note.

The company's like-for-like sales rose by 5% due to premium iPhone sales and IT benefiting from the replacement cycle, while NZ saw positive like-for-like sales growth as the company gained share and benefited from accelerated store rollout, the note said.

The Good Guys maintains its dominance in entry-level appliances, with the like-for-like run-rate doubling between August and September.

Jarden said industry expectations for a stronger cyber period, new releases, and the replacement cycle should ensure a continuation of trends.

The investment advisory firm raised JB Hi-Fi's price target to AU$68 from AU$64.80 while keeping its underweight rating.