Australia's Kogan.com to resume dividends by FY25 - Citi

Kogan.com

01/11/2023 02:46

** Analysts at Citi initiate coverage on Australia's
Kogan.com  KGN.AX  with a "sell" rating and A$4 PT
    ** KGN shares up 2.5%
    ** Broker expects the retail and services business to resume
paying dividends to shareholders by fiscal 2025
    ** Citi forecasts sales growth of 6.5% in fiscal 2024 and
around 9% for fiscal 2025 and fiscal 2026
    ** We expect gross profit margin in FY24 to be 32% given
normalisation in product-based GP margins and to remain stable
at that level - Citi
    ** Stock up 25.1% this year, as of last close 

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