0002 GMT - KMD Brands' improving trade conditions through its second fiscal quarter aren't enough to turn Canaccord Genuity analyst Allan Franklin more positive on the stock. He keeps a hold rating on the dual-listed apparel retailer's Australian shares, telling clients in a note that he is waiting on a stronger operating performance and a more certain earnings outlook before becoming more positive. Franklin points out that, while the improved trading conditions helped KMD beat its 1H Ebitda guidance and cut debt, the company still reported a net loss and negative Ebit. Top-line momentum, impacted by factors including North American wholesale conditions, is the biggest catalyst for sentiment, he adds. Canaccord cuts its target price 21% to A$0.33. Shares are flat at A$0.31. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 20:02 ET (00:02 GMT)
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