Australia's City Chic Collective slips as Morgan Stanley bearish, cuts PT

City Chic Collective

27/11/2023 24:09

** Brokerage Morgan Stanley says Australia's City Chic
Collective's  CCX.AX  trading update misses expectations
    ** Shares of City Chic down 4.1% at A$0.355
    ** The Omni-channel fashion retailer posted an over 30% drop
in first-quarter revenue on Nov 22
    ** Brokerage keeps rating at "equal-weight" for co
    ** Morgan Stanley cuts price target to A$0.40 from A$0.45  
    ** Four of nine analysts rate the stock "buy" or higher,
four "hold" and one "sell"; their median PT is A$0.49 – LSEG
data 
    ** Stock down 24.2% this year, as of last close

    

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))