2247 GMT - Metcash's current trading trends bode positively for the retail group's F2H despite supply-chain disruption and potentially higher costs, Macquarie says. The investment bank lifts its recommendation on the stock to outperform from neutral after Metcash reported strong performances by its food and liquor units, and what Macquarie calls a standout F1H in hardware. Macquarie lifts its EPS forecasts for Metcash by 8.8% for FY22, by 5.3% for FY23 and by 4.8% for FY24, and sees potential for further earnings upgrades as the group's business mix shifts further toward higher-margin hardware. It lifts its target price by 15% to A$4.70. Shares last traded at A$4.24. (stuart.condie@wsj.com; @StuartLCondie)
Metcash Upgraded to Outperform With 2H Looking Good -- Market Talk
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