<AD>

<WIRE> Canaccord Genuity Trims Price Target on Adairs (ASX:ADH), Lowers Fiscal 2024 Earnings Projection



Canaccord Genuity analysts have adjusted the price target on Adairs (ASX:ADH), the Australian home furnishings retailer, from A$1.60 per share down to A$1.40.

They forecast a trend of subdued sales throughout fiscal 2024, hence adjustments were made to the Earnings Before Interest and Taxes (EBIT) estimates, reducing them to just under A$50 million.

Canaccord has decided to maintain their ‘hold’ rating on Adairs until more promising news regarding earnings or changes in management outlook emerge.

The analysts note that current trading conditions are weak in fiscal 2024, suggesting continued difficulty in the retail environment.

Out of nine industry analysts, three rate Adairs' stock as ‘buy’, five rate it as ‘hold’, and one as ‘sell’, with a median price target of A$1.80, according to Refinitiv data.

The stock has substantially dipped this year, experiencing a 35.7% loss as of the last closing price.

Adairs is a specialty retailer that provides high-quality and fashionable homewares and home furnishings.


View full chart on Save $30 on a Pro or Premium TradingView account

Save $30 on a Pro or Premium TradingView account


Supported by

<SPON> Trade share CFDs with Plus500



Global online trading services company, Plus500:

Plus500 trading platform allows you to trade shares from all popular markets such as USA, UK, Germany and more, with leverage and low spreads. Using our advanced trading tools, you can also control your profits and losses.

Plus500AU Pty Ltd, AFSL #417727 issued by Australian Securities and Investments Commission. Based in Sydney.

LINK


Subscribe to the newsletter

Receive whispers every day in your inbox.