Brambles (ASX:BXB) "surprisingly" expects to retain 4 million surplus pallet stock until 2027, said Jarden Research in a Thursday note.
The company reported fiscal 2025 earnings of $0.645 per share, up from $0.558 a year earlier. Revenue for the 12 months ended June 30 was $6.67 billion, compared with $6.52 billion a year earlier.
Jarden noted that fiscal 2026 guidance surprise and continued capital management as key upside risks, cost-out as the main earnings driver, and management succession as key downside risks.
Jarden maintained its neutral rating and target price of AU$21.65 on Brambles.
Brambles' shares rose 10% in recent Thursday trade, earlier hitting an all-time high.
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