Analysts still cautiously upbeat on Delegat Group

Analysts still cautiously upbeat on Delegat Group
Delegat Group expects global wine case sales to be down 1.7% on last year. (Image: Delegat)
Rebecca Howard
Analysts remain cautiously upbeat on Delegat Group after the winemaker downgraded its volumes and earnings guidance.Jarden lowered its 12-month target price to $10.70 versus a prior view of $11.80. However, it retained an overweight rating.The stock was trading at around $7.20 late Friday. It has shed 27% over the past 12 months.Forsyth Barr doesn’t provide a target price or investment rating for Delegat (DGL).Lower guidanceDelegat now expects global case sales of 3,614,000 cases for the 2024 year, down 1.7% on last year an...

More Markets

NZX 50 ends the week down 1.5% in flurry of index reweighting
Markets Market close

NZX 50 ends the week down 1.5% in flurry of index reweighting

The S&P/NZX 50 index dropped 89.42 points, or 0.8%, to 11,682.39.

Paul McBeth 21 Jun 2024
KMD Brands guidance undershoots analysts' forecasts
Retail

KMD Brands guidance undershoots analysts' forecasts

Group sales between February and May have fallen 8.4% year-on-year.

Analysts downgrade Channel Infrastructure
Infrastructure

Analysts downgrade Channel Infrastructure

The move follows BP's selling its stake.

Ian Llewellyn 21 Jun 2024
NZ shares rally as economy edges out of recession
Markets Market close

NZ shares rally as economy edges out of recession

The S&P/NZX 50 index rose 100.62 points, or 0.9%, to 11,771.81.

Paul McBeth 20 Jun 2024