Morningstar optimistic on Australia's Kogan.com's medium-term forecast

Kogan.com

26/08/2024 21:44

** Analysts at Morningstar say Kogan.com's  KGN.AX  annual
adjusted net profit after tax of A$21 mln ($14.23 mln) beat
brokerage estimates by about 20%
    ** Brokerage maintains fair value estimate of A$10.70/shr
    ** Morningstar forecasts EBITDA margins for the retail
business operator to gradually expand to durable levels of
around 18% by fiscal 2027
    ** We temper our near-term outlook, with our previous very
optimistic expectations looking unrealistic against recent
operating performance - brokerage
    ** KGN swung to an annual underlying profit of A$21 mln in
FY24, from a loss of A$4.3 mln in FY23, on Monday
    ** Stock down 7.3% this year, as of last close

($1 = 1.4760 Australian dollars)

 (Reporting by Shivangi Lahiri in Bengaluru)
 ((Shivangi.Lahiri@thomsonreuters.com;))