Street View: JB Hi-Fi's resilient earnings prompt consensus PT hikes
** Shares of Australia's consumer electronics retailer JB Hi-Fi JBH.AX closed at an all-time high of A$72.980 on Monday
** JBH posted smaller-than-expected drop in FY24 profit, a solid start to FY25; announced acquisition of a white goods retailer E&S Trading
** Company declared special dividend citing "elevated" net cash position
** JBH up 37.6% YTD, outperforming ASX consumer discretionary index's .AXDJ 15% gains
SOLID GROWTH, MORE SHAREHOLDER RETURNS FORECAST
** Citi hikes PT for JBH stock to A$85.00 from A$74.00, retains "buy"
** Says expects 80 Australian cents/shr special dividends annually till FY27; hikes FY25-26 EBIT view by 9% to 14%
** JBH best-performing stock under coverage YTD - brokerage
** "Believe investors are still underweight discretionary" - Citi
** Jefferies hikes PT for JBH stock to A$61 from A$55.50, retains "underperform"
** Says JBH is a "very-well-run business, which has scope to return more capital to shareholders"
** Brokerage hikes underlying NPAT view by 5% to 6% for fiscals 2025 and 2026
** Morningstar sees "rising wages and fiscal stimulus to underpin better trading conditions" in FY25 vs FY24
** Four of 14 analysts rate JBH "buy" or higher, five "hold" and five "sell" or lower; median PT is A$64.50 - LSEG data
Reporting by Sameer Manekar in Bengaluru
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