BRG – Credit Suisse rates the stock as Downgrade to Neutral from Outperform

Credit Suisse remains positive about the long-term growth prospects but the share price has appreciated over 160% since March. Therefore, this is considered a good opportunity to take a breather and the broker downgrades to Neutral from Outperform.

The target is raised to $26.81 from $20.27. Market trends provide confidence with respect to the performance in May and June and forecasts are upgraded accordingly.

Medium-term forecasts are also upgraded based on the coffee category continuing to drive overall growth in the small home appliances industry. Breville will report its results on August 13.

Sector: Retailing.

Target price is $26.81.Current Price is $28.59. Difference: ($1.78) – (brackets indicate current price is over target). If BRG meets the Credit Suisse target it will return approximately -7% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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 →