Breville posted a solid result, in line with the broker’s forecast. The US is seeing strong momentum in sales across all key product categories and the company’s development pipeline remains solid, the broker notes.
The new business transformation program will should materially impact in FY17, the broker suggests, yet the stock trades on an undemanding PE. Outperform retained, target rises to $9.00 from $7.70.
Target price is $9.00.Current Price is $7.89. Difference: $1.11 – (brackets indicate current price is over target). If BRG meets the Credit Suisse target it will return approximately 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).