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Jarden Downgrades Harvey Norman to Hold, Sets A$4.50 Target

Harvey Norman logoHarvey Norman
Sig1.23Sen-2.15Env0.00Soc0.00Gov0.00

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.

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