VTG – Morgans rates the stock as Add

By Broker News | More Articles by Broker News

Australian consumers seem to respond well to the iPhone 6 as it allowed Vita Group to issue a positive profit warning. Morgans analysts are pleased, but they still maintain positive momentum will be largely carried by ongoing new shop additions.

Earnings forecasts have been lifted. The analysts continue to see the risk as to the upside. Add rating retained. Price target lifts to $1.35 from $1.25.

The stockbroker observes the shares are offering double digit yield, including a 6c special dividend on FY15 estimates.

Sector: Retailing.

Target price is $1.35.Current Price is $1.24. Difference: $0.11 – (brackets indicate current price is over target). If VTG meets the Morgans target it will return approximately 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).

Broker News

About Broker News

FNArena's Australian Broker Call, is your daily news report on the latest recommendation, valuation, forecast and opinions recently published by Stockbrokers.

View more articles by Broker News →