Endeavour Group: A relatively stable quarter

About the author:

Alex Lu
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By Alex Lu
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Date posted:
03 May 2023, 6:30 AM
Sectors Covered:

  • Endeavour Group (ASX:EDV) reported 3Q23 sales growth that was slightly above our expectations.
  • Retail sales were marginally ahead of our forecast while Hotels were slightly below.
  • Management said trading conditions so far in 4Q23 have remained generally consistent with 3Q23.
  • We decrease FY23-25F underlying EBIT by 2%.
  • Our target price falls to (login to view) and we maintain our Add rating.

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