BUZZ-NZ's KMD Brands falls as Morgan Stanley cuts PT on downbeat outlook

Reuters03-28
BUZZ-NZ's KMD Brands falls as <a href="https://laohu8.com/S/MSPQL">Morgan Stanley</a> cuts PT on downbeat outlook

** Shares of outdoor clothing retailer KMD Brands KMD.NZ, KMD.AX fall 1.4% to NZ$0.355

** Stock set for its worst weekly drop in more than a month, if losses hold

** Morgan Stanley revises estimates and price target for KMD after co's interim results came ahead of pre-guidance

** However, the start to the second half was mixed, with DTC sales showing varied growth, wholesale accounts remaining cautious, and short-term gross margin percentage pressure due to increased competition - MS

** Brokerage revises EBITDA forecasts, with a cut of 40% in FY25E, 18% in FY26E, and 3% in FY27E

** Maintains an "equal-weight" rating, trims PT of ASX-listed shares to A$0.35 from A$0.50

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))

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