Metcash Ltd
MTS: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$6.00 | Fdmv | Xypfpycn |
Metcash: Sales Growth Tapers as Temporary Market Share Gains Unwind
We downgrade our fiscal 2024 EPS forecast for no-moat Metcash by 5%. However, the valuation impact of our weaker near-term sales forecast is immaterial. We maintain our AUD 4 fair value estimate with shares in Metcash currently trading at a modest discount.