SUL – Credit Suisse rates the stock as Outperform

Super Retail Group noted a net profit rise of 137% in the first half with sales revenue increasing by 23%. Online sales increased by 87% year on year.

Credit Suisse has more confidence than the market in the company’s FY22 earnings prospects since the re-opening of borders will be a drawn-out process.

Even after the recent upgrades, Credit Suisse considers the group undervalued and believes a re-rating is possible in furture.

Credit Suisse maintains an Outperform rating. Target rises to $13.19 from $12.21.

Sector: Retailing.

 

Target price is $13.19.Current Price is $11.75. Difference: $1.44 – (brackets indicate current price is over target). If SUL meets the Credit Suisse target it will return approximately 11% (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 →