0042 GMT - Temple & Webster's bulls at Morgan Stanley reckon that the furniture retailer's home-improvement sales could eventually match those from its core business. MS analysts tell clients in a note that the fast-growing home-improvement business, which they expect to account for about 7% of fiscal 2025 group revenue, is highly complementary to the online specialist's furniture offering. They note that management is replicating a proven strategy, and could ramp up quickly given leverage to existing resources and cross-sell opportunity. MS raises its target price 51% to A$28.00 and keeps an overweight rating on the stock. Shares are up 0.9% at A$22.04. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 18, 2025 20:42 ET (00:42 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.