Citi bumps up PT, profit view on Australia's Kogan.com after higher sales

Kogan.com

23/11/2023 19:14

** Citi raises price target on Kogan.com Ltd  KGN.AX  to
A$4.30 from A$4.00; upgrades FY24 EBIT forecast by 13% 
    ** The retailer in Thursday's AGM meeting said it returned
to year-on-year growth of gross sales for the group in October
2023
    ** Brokerage says it continues to see heightened competitive
pressures facing Kogan.com in the long term, maintains "sell"
rating 
    ** 1 out of 7 analysts rates the stock "buy", 2 "hold" and 4
"sell" or lower; their median PT is A$4.50 – LSEG data
    ** Stock up 37.1% this year, as of last close

 (Reporting by Poonam Behura in Bengaluru; editing by David
Evans)
 ((Poonam.Behura@thomsonreuters.com;))