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)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.