Mainfreight Data Update Post FY26 Results

Goldman Sachs raised its price target for Mainfreight (MFT.NZ) to NZ$66.40 while maintaining a Neutral rating following the FY26 results. EBIT estimates for FY27-29 were revised upward by 1-4% due to stronger margins in Australia and Asia.

Key Takeaways

• 1.Updated FY27-29 underlying EBIT estimates by +4%/+1%/+2% following the FY26 result, driven by stronger margin assumptions in Australia and Asia.
• 2.The 12-month price target for Mainfreight has been increased to NZ$66.40 from NZ$63.35, while the stock rating remains Neutral.
• 3.Revenue forecasts were slightly trimmed due to soft top-line trends in FY26, but this was offset by the aforementioned margin improvements.

Table of Contents

• Mainfreight (MFT.NZ): Data Update: Updating estimates post FY26 result
• Price Target Risks and Methodology - Mainfreight (MFT.NZ)
• Disclosure Appendix
• Price target and rating history chart(s)
• Target price history table(s) Mainfreight (MFT.NZ)
• Regulatory disclosures

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