Retail Food Group Builds Platform With Coffee Purchase -- Market Talk

Dow Jones11-05

2344 GMT - Retail Food Group's acquisition of CIBO Espresso secures what the company's bull at Shaw & Partners calls a critical-mass platform for its Gloria Jeans brand in South Australia state. Analyst Larry Gandler tells clients in a note that he believes the CIBO chain is profitable despite a shortage of investment and attention from its previous owners. Rebranding the 22 CIBO stores as Gloria Jeans will expand that brand in the state. Gandler lifts his fiscal 2026 net profit forecast for RFG by 3% on CIBO revenues and synergies and thinks this is when company earnings will break out, with 20% growth. Shaw has a buy rating and A$0.10 target price on the stock, which is up 1.5% at A$0.068. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 04, 2024 18:44 ET (23:44 GMT)

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Gandler lifts his fiscal 2026 net profit forecast for RFG by 3% on CIBO revenues and synergies and thinks this is when company earnings will break out, with 20% growth. Shaw has a buy rating and A$0.10 target price on the stock, which is up 1.5% at A$0.068. 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