Warehouse shares jump to six-week high after Craigs upgrades recommendation to buy

Tue, 22 Apr 2014

April 22 (BusinessDesk) – Shares in Warehouse Group, New Zealand’s largest publicly listed retailer, rose to a six-week high after the stock was upgraded to ‘buy’ at brokerage Craigs Investment Partners. Warehouse jumped 1.8 percent to $3.32, its highest since March 10. That’s a discount to the stock’s 12-month price target of $3.64, Craigs analyst Chris Byrne said in an April 17 note where he upgraded his recommendation from ‘hold’. Under chief executive Mark Powell, who notches up three years in the job next month, Warehouse is investing i...

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