Temple & Webster downgraded to Sector Perform from Outperform at RBC Capital

RBC Capital downgraded Temple & Webster to Sector Perform from Outperform with a price target of A$26, up from A$25. Following a “solid trading update,” the firm’s growth assumptions are largely unchanged, but it reduced earnings expectations to be in-line with the mid-point of FY26 guidance and argues that investors are “pre-paying for uncertain, long- dated earnings.”