JBH
JB Hi-Fi (JBH) is a leading retailer of diversified home consumer products. The products JB Hi-Fi retails include consumer electronics, such as televisions, home theatres, digital still, video cameras, mobile phones and accessories; electrical goods, such as whitegoods, computing equipment, kitchen equipment, air conditioners and small electrical appliances; car sound systems, including audio and visual, and music, games and movies. JB Hi-Fi listed on the Australian Stock Exchange on October 23, 2003.
JB Hi-Fi (JBH) records a 46.8% rise in sales in its New Zealand stores for the first half of the financial year. Revenue rose 28 percent to $1.26 billion for the half year, the company reported. Comparable store growth for the period was 11.1 per cent after currency adjustments with both Australia and New Zealand recording 11.3% growth.
Spotless Group (SPT) was the overall best performing stock taking in a 18.21 percent increase. Among the best performing stocks for the week 24 of 2008 on the Australian sharemarket was a mixture of toll road development, oil and gas exploration, retail services, mineral and mining: Transurban Group (TLC), Woodside Petroleum (WPL), Santos (STO), Spotless Group (SPT), JB Hi-Fi (JBH), Mincor Resources (MCR). These top gainers for the week 24 managed above 6.79 percent by the end of the trading week.
Boom Logistics (BOL) was the overall worst performing stock taking in a 25.5 percent decrease in its share price this week. Among the worst performing stocks for the past trading week (week 7 for 2008) on the Australian sharemarket were a mixture of financial services, electronic, implant devices, constructing and logistics: Challenger FSG (CGF), Cochlear (COH), Leighton (LEI), Boom Logistics (BOL), JB Hi-Fi (JBH). These worst performing stocks for week 7 of 2008 were ranged from 12 percent to 25 percent in their losses.
Last week, global markets stumbled following reports that China was looking to impose controls to curb its rapidly growing economy and concerns that a soft landing for the US economy may be more difficult than first thought. In the background, the Australian reporting season continued its final week, here are analyst Macquarie Research Equities (MRE) observations and thoughts. The HY December 2006 aggregate earnings reported for the market printed 1.5 percentage points below analyst expectations versus those held at the start of this reporting season.
SB Citigroup have downgraded the JB Hi-Fi (JBH) stock to Hold from Buy, High risk and values the company at $4.51 per share. The broker has commented that it is taking a cautious outlook on consumer spending in the period leading towards Christmas, especially with interest rates moving higher. The analyst also notes that any cautiousness on the management's outlook statements may trigger a sell-off.
If you wish to use these broker recommendations for trading shares listed on the Australian Stock Exchange, it is highly recommended that you back up your analysis using fundamental or technical analysis or a combination of both before investing in any company.
UBS has a Neutral 2 recommendation for National Australia Bank (NAB) with a target of $35 per share.
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