2251 GMT - Brambles' soft start to its fiscal year increases pressure on the global pallet supplier to lift volumes through the second half, Jefferies analysts say in a note to clients. They think that modest in-year pricing growth means that volume growth needs to accelerate if Brambles is going to hit its annual guidance. The company expects stronger net new wins in its fiscal second half, supported by increases in prices for whitewood pallets, which are seen by customers as an alternative to those leased by Brambles. Jefferies lifts its target price 3.3%, to A$17.02, and keeps a "hold" rating on the stock, which is at A$18.29 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 24, 2024 18:51 ET (22:51 GMT)
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