KGN – UBS rates the stock as Neutral

By Broker News | More Articles by Broker News

While the acquisition of Matt Blatt and the acceleration in online penetration is supportive, UBS remains cautious. As stores re-open and competitive offerings emerge the broker expects the benefits for online business from the pandemic will partially reverse.

The broker suggests the market is already pricing in a structurally better outlook. While raising estimates for the long-term by 8-10%, UBS retains a Neutral rating. Target is raised to $8.50 from $6.30.

Sector: Retailing.

Target price is $8.50.Current Price is $8.35. Difference: $0.15 – (brackets indicate current price is over target). If KGN meets the UBS target it will return approximately 2% (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 →