Australia’s Harvey Norman gets PT hike from brokerages after upbeat sales

Jefferies and Morningstar raise their price targets, fair value estimate on consumer electronics retailer Harvey Norman HVN.AX after upbeat trading update

Jefferies nudged its PT to A$8.40 from A$8.30, after HVN reported a rise in aggregated sales revenue from July 1 to November 20

HVN's acute operating leverage and housing exposure position it for accelerating earnings and further upside, brokerage adds

Morningstar lifted Harvey Norman’s fair value estimate by 12% to A$5.50, noting solid demand for electronics and home goods during recent rate cuts

Investment research firm, however, warns U.S. giant Amazon’s AMZN.O aggressive push in Australia looms as HVN’s biggest threat, especially in electronics, where online penetration runs deep

Stock up 56% so far this year as of last close