Australia's Collins Foods rises after Citi 'supportive' of KFC restaurants acquisition

Collins Foods

12/03/2026 24:06

Updates

** Shares of Australia's Collins Foods CKF.AX rise as much as 13.3% to A$10.68

 ** Stock hits biggest intraday pct gain since June 25, 2025

 ** Touches highest level since February 9, 2026

** Citi "supportive" of the restaurant operator's acquisition of eight KFC restaurants in Germany

** On Wednesday, co signed agreement to acquire eight KFC restaurants in Bavaria

** Brokerage says acquisition is a positive for co as it helps geographic expansion and improves margins

** "Collins’ execution is strong in this market" — Citi

** Citi maintains "buy" rating, keeps PT at A$12.85

** Eight of 11 analysts rate the stock "buy" or higher, three "hold"; their median PT is A$12.4 — LSEG data

** Despite moves, stock down 2% YTD

(Reporting by Aamir Sheik Khalid in Bengaluru)

((Aamir.SheikKhalid@thomsonreuters.com))