Australia's Nick Scali hits record high; Jefferies lifts PT

Nick Scali

11/08/2025 01:34

Updates

** Shares in Australia's Nick Scali NCK.AX gain as much as 4.1% to a record high of A$21.32

** Jefferies raises PT on furniture retailer Nick Scali to A$23.50 from A$22.00; keeps stock rating at "buy"

** Brokerage says co's profit beat is a solid result, driven by resilient sales in ANZ and global markets, with momentum building into FY26

** Flags that co requires only a modest rise in sales from UK to break-even

** Expects the modest rise to happen as sales team gets optimised and marketing begins

** Jefferies sees upside from co expanding its proven model as monetary policy eases, consumer confidence improves and house prices rise

** NCK shares gained as much as 10.2% to A$21.14 on Friday after its FY25 UNPAT beat Visible Alpha consensus

** Stock up 36.51% YTD

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Tom Hogue)

 ((Rishav.Chatterjee@thomsonreuters.com;))