In a report released on June 26, Ben Gilbert from Jarden maintained a Buy rating on Metcash Limited (MCSHF – Research Report), with a price target of A$4.30. The company’s shares closed last Thursday at $2.42.
Gilbert covers the Consumer Defensive sector, focusing on stocks such as Woolworths Group Ltd, Coles Group Ltd., and Metcash Limited. According to TipRanks, Gilbert has an average return of -3.0% and a 41.90% success rate on recommended stocks.
In addition to Jarden, Metcash Limited also received a Buy from UBS’s Shaun Cousins in a report issued yesterday. However, on the same day, Jefferies maintained a Hold rating on Metcash Limited (Other OTC: MCSHF).
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MCSHF market cap is currently A$3.63B and has a P/E ratio of 13.76.
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Metcash is a wholesale distribution and marketing company specialising in grocery, fresh produce, liquor, hardware, and other fast-moving consumer goods. Metcash has three business units: food and grocery, liquor, and hardware. Centralised wholesale distribution enables retailers to gain access to the combined scale of a large number of retailers to negotiate meaningful volume discounts.
