Forsyth Barr says Trump’s tariffs are hurting Mainfreight

Mainfreight will likely find earnings growth in FY26 harder to achieve than current market expectations imply, Forsyth Barr analysts say. (Image: Mainfreight)

Rebecca Howard

Fri, 28 Mar 2025

Forsyth Barr analysts lowered their 12-month target price on Mainfreight by 8.8% and noted a worsening near-term economic outlook due to actual and threatened tariffs and the recent decline in sea and air freight rates. Analysts Andy Bowley and Hugh Lockwood rate Mainfreight at Neutral and now have a 12-month target price of $73. The stock was trading at $64.71 late Thursday in Wellington.According to Bowley and Lockwood, “The cyclical demand backdrop was temporarily boosted by the threat of tariffs but is now firmly on a...

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