Citi notes a strong result was delivered amid gross margin expansion in FY21. A high level of inventory was procured as a response to ongoing supply chain disruptions, while capital expenditure guidance has been lifted as the store network is built out.
Buy rating and $14.40 target price.
Sector: Retailing.
Target price is $14.40.Current Price is $13.20. Difference: $1.20 – (brackets indicate current price is over target). If SUL meets the Citi target it will return approximately 8% (excluding dividends, fees and charges – negative figures indicate an expected loss).
