Harvey Norman Bull Warns of Challenging Environment
Dow Jones
Sep 01
0257 GMT - Harvey Norman's bull at Bell Potter sees growing macro headwinds for the Australian appliance and furniture retailer. Analyst Chami Ratnapala keeps a buy rating on the stock but tells clients in a note that a challenging operating environment showed up in Harvey Norman's fiscal 2026 results, with some sizable second-half misses in its key franchising division. She warns that the start of fiscal 2027 featured declining comparable sales in most major markets, and that consumer sentiment is weakening in Australia as shoppers brace for further interest-rate rises. Bell Potter cuts its target price by 17% to 5.00 Australian dollars. Shares are down 2.5% at A$4.175.
At the request of the copyright holder, you need to log in to view this content
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.