In a report released yesterday, Michael Simotas from Jefferies maintained a Hold rating on Metcash Limited (MCSHF – Research Report), with a price target of A$3.60. The company’s shares closed last Thursday at $2.30.
Simotas covers the Consumer Defensive sector, focusing on stocks such as Coles Group Ltd., Metcash Limited, and Woolworths Group Ltd. According to TipRanks, Simotas has an average return of 6.7% and a 62.50% success rate on recommended stocks.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Metcash Limited with a $2.72 average price target.
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The company has a one-year high of $3.05 and a one-year low of $2.19. Currently, Metcash Limited has an average volume of 1,944.
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Metcash Limited (MCSHF) Company Description:
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.
