Jarden Downgrades Harvey Norman to Hold, Sets A$4.50 Target
Jarden downgraded Harvey Norman Holdings to a Hold and set a A$4.50 price target. Other broker views were mixed, with Morgan Stanley also holding and Bell Potter keeping a Buy. The company’s latest quarterly results for the period ended June 30 showed revenue of A$1.98 billion and net profit of A$206.55 million, down from A$2.01 billion revenue and A$238.62 million net profit a year earlier.