City Chic Collective's 1H estimates miss Macquarie's forecasts

City Chic Collective

06/02/2024 03:40

** Macquarie says Australia's City Chic Collective's
 CCX.AX  1H sales outlook of A$105.8 million ($68.69 million) is
2.4% below its estimates of A$108.4 mln 
    ** Macquarie says co's 1H EBITDA loss forecast in the range
of A$7 mln - A$10 mln exceeds its estimate of A$3.5 mln loss
    ** Brokerage raises price target for   CCX.AX  by ~40% to
A$0.54, on valuing co as a standalone Australia & New Zealand
business
    ** Shares of co down as much as 3.7% 
    ** Co to report interim results on Feb. 27
    ** Four of eight analysts rate the stock "Buy" or higher and
four "hold"; their median PT is A$0.59 – LSEG data
    ** Stock has risen 0.9% this year as of last close 


($1 = 1.5404 Australian dollars)

 (Reporting by Sherin Sunny in Bengaluru)
 ((Sherin.Sunny@thomsonreuters.com))