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Jefferies hikes PT, profit view for Australia's Temple & Webster on improving sales

By Reuters News

** Jefferies raises PT and profit forecasts for Temple & Webster Group TPW.AX following an incrementally positive trading update

** Online homeware retailer in October flagged revenue down 8% for YTD FY27 vs 13% decline for YTD FY27 in August update

** Jefferies says this implies sales has improved over two months, with contribution margin growth also strnegthening

** Brokerage lifts PT to A$7 from A$5.25 with "buy" tag; also lifts NPAT pre share-based payments by around 20% for FY27-29

** The business model and balance sheet remain rock solid; the long-term story of online penetration of Homewares & Furniture sector remains intact - Jefferies

** Stock down 56.6% so far this year, as of last close

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