UBS assesses customer engagement improved in Australia and Germany in the first half but softened in France.
While the broker is comfortable with the digital trends, weak store growth in the EU and the weighting of openings to December could mean some risk to sentiment in the near term.
There is a strong opportunity in the EU but UBS believes this is priced into the stock. Neutral rating and $50 target maintained.
Sector: Consumer Services.
Target price is $50.00.Current Price is $55.92. Difference: ($5.92) – (brackets indicate current price is over target). If DMP meets the UBS target it will return approximately -12% (excluding dividends, fees and charges – negative figures indicate an expected loss).