CCX – Macquarie rates the stock as Outperform

Given recent performance from other apparel retailers Macquarie has reiterated its expectations that City Chic Collective’s second half earnings will exceed its first half by $2.0m, noting online traffic and a lesser impact from lockdowns should support the result.

The broker anticipates a economic recession in the US in 2023, but expects Australia will experience only an economic downturn, but has lowered FY23 and FY23 forecasts to account for a potential consumer demand decline.

The Outperform rating is retained and the target price decreases to $2.50 from $3.20.

Sector: Retailing.


Target price is $2.50.Current Price is $1.92. Difference: $0.58 – (brackets indicate current price is over target). If CCX meets the Macquarie target it will return approximately 23% (excluding dividends, fees and charges – negative figures indicate an expected loss).



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