Citi cuts PT on Aussie KFC operator Collins Foods, lowers earnings estimates

Collins Foods

23/08/2023 21:28

** Analysts at Citi cut Price Target on Australia's Collins
Foods  CKF.AX  to A$11.25/share from A$12.80/share
    ** Citi trims net profit after tax forecast on the Aussie
operator for KFC chains by 2% to 4% over FY24 to FY26
    ** Lowers earnings forecasts reflecting falling sales and
higher costs of doing business
    ** We would like to see how the company navigates cost
pressures before turning more positive on the stock - Citi 
    ** Five of 10 analysts rate the stock "buy" or higher and
five "hold"; their median PT is A$10.30 – Refinitiv data
    ** Stock has risen 40.1% this year, as of last close 

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))