Australia's Kogan.com extends gains on buy-back, hits near 7-week high

Kogan.com

27/04/2023 03:59

** Shares of online retailer Kogan.com  KGN.AX  extend gains
to jump as much as 11.7% to A$4.31, their highest level since
March 10 
    ** On Wednesday, KGN announced a share buy-back of up to 10%
of its issued shares, and returned to profitability, aiding
shares settle up 7.2%
    ** KGN set for fifth straight session of gains
    ** "On balance, Kogan's operating metrics markedly improved
during the third quarter of fiscal 2023" - Morningstar
    ** Broker Canaccord Genuity raised its PT on KGN to A$4.10
from A$4.10, but retained "hold" rating
    ** Stock among top gainers on the ASX All Ordinaries index
 .AORD 
    ** Three of six analysts rate the stock "hold" and three
"sell"; their median PT is A$3.89 – Refinitiv data
    ** Nearly 900,000 shares change hands, vs the 30-day average
volume of ~350,000 shares
    ** KGN stock up 10.3% YTD as of last close
    

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))