BUZZ-Australia's Temple & Webster extends gains to hit record high; Morgan Stanley hikes PT

Reuters

14 Feb

BUZZ-Australia's Temple & Webster extends gains to hit record high; <a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> hikes PT

** Shares of Temple & Webster TPW.AX rise as much as 9.5% to hit a record high of A$17.67, last up 9.4%

** Online furniture retailer on Thursday reported two-fold rise in HY NPAT to A$9 million ($5.65 million), 73% over consensus estimates

** Morgan Stanley has hiked its TP to A$18.50 from A$13.15, maintains "Overweight"

** Brokerage accounts for increased earnings outlook for FY25-27, driven by higher profit margins

** 7 of 11 analysts rate the stock "Buy" or higher, 4 "Hold"; their median PT is A$17.25 – LSEG data

** Stock rose 50.2% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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