BUZZ-JP Morgan raises PT on Australia's Accent Group, upgrades earnings estimates

Reuters10-03

** Analysts at JP Morgan raise price target on Australian footwear retailer Accent Group to A$2.50 per share from A$2.30 per share

** Brokerage upgrades FY26 EBIT estimate by 3% and FY27 EBIT by 4%

** Accent Group said on Wednesday it had been appointed as exclusive distributor for French classic fashion brand Lacoste and lifestyle and streetwear brand Dickies in the Australia and New Zealand region

** Co said it was adding two more global brands to its current distributed brand relationships

** Management is taking solid steps to optimise retail and wholesale footprint, and highlights strong market position that AX1 has in footwear retail market - JP Morgan

** All 11 analysts covering the stock rate it "buy" or higher; their median PT is A$2.40 – LSEG data

** Stock had risen 16% this year, as of last close

(Reporting by Roshan Thomas in Bengaluru)

((Roshan.Thomas@thomsonreuters.com))

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment