Citi cuts PT, earnings estimate on Australia's Dicker Data

Dicker Data

20/05/2024 23:57

** Analysts at Citi reduce price target for Dicker Data
 DDR.AX  by 14% to A$11.70 
    ** Brokerage lowers FY24 estimates for the technology
distributor by 7% for gross sales and by 11% for net profit
after tax
    ** Says estimate revision reflects slower sales growth in a
subdued market and margin pressure from increased competition
    ** Adds DDR's Q1 update and comments on a subdued market has
lowered the broker's 1H24 gross sales growth forecast by 13%
    ** Three of eight analysts rate the stock "buy" or higher,
four "hold" and one "sell" or lower; their median PT is A$10.50
– LSEG data
    ** Stock has fallen 23.8% YTD, as of last close

 (Reporting by Sneha Kumar in Bengaluru)
 ((Sneha.Kumar@thomsonreuters.com;))