Citi Maintains Buy Rating for JB Hi-Fi Limited with A$120.00 Price Target

Citi analyst Adrian Lemme maintains a Buy rating on JB Hi-Fi Limited with a price target of A$120.00. Lemme has a 4-star analyst rating with an average return of 8.9% and a 64.62% success rate. The company has a consensus analyst rating of Hold with a price target consensus of A$110.14. JB Hi-Fi Limited's one-year high is A$118.33 and one-year low is A$70.71.

JB Hi-Fi Ltd (ASX: JBH) shares are experiencing a downward trend following the company's strong financial results and the announcement of CEO Terry Smart's resignation. In early trading on Monday, JB Hi-Fi's shares reached a record high before retreating, ultimately closing down 2% at $113.61 [1].

The company reported a 10% increase in sales to $10.6 billion and a 7.3% lift in earnings before interest and tax (EBIT) to $694.1 million for the 12 months ended 30 June. Underlying EBIT was up 9.4% to $707.8 million, exceeding analyst expectations [1]. Net profit after tax rose 5.4% to $462.4 million on a reported basis and 8.5% to $476.1 million on an underlying basis. The company declared a final fully franked dividend of $1.06 per share, totaling $2.75 per share, up 5.4% year on year. Additionally, a fully franked special dividend of $1.00 per share was declared, and the future payout ratio was increased to 70% to 80% of net profit after tax [1].

However, the market's attention was drawn to the surprise announcement that CEO Terry Smart will step down on 3 October, to be replaced by Nick Wells, the current chief operating officer [1]. Smart's departure is expected to weigh on investor sentiment, despite his positive outlook on the company's performance and future prospects.

Citi analyst Adrian Lemme maintains a Buy rating on JB Hi-Fi Limited with a price target of A$120.00. Lemme has a 4-star analyst rating with an average return of 8.9% and a 64.62% success rate. The company has a consensus analyst rating of Hold with a price target consensus of A$110.14. JB Hi-Fi Limited's one-year high is A$118.33 and one-year low is A$70.71 [2].

References:
[1] https://www.fool.com.au/2025/08/11/jb-hi-fi-shares-fall-after-ceo-exit-overshadows-strong-result/
[2] https://www.fool.com.au/2025/08/11/jb-hi-fi-shares-fall-after-ceo-exit-overshadows-strong-result/