Brokerage Citi positive on Nick Scali's UK business

Nick Scali

20/05/2025 21:02

** Analysts at Citi see positive medium-term tailwinds for Australia-based Nick Scali's NCK.AX UK business

** Brokerage continues to see market recovery in the UK due to interest rate cuts and housing transaction growth, supporting its forecast for per-store sales uplift of 41% in comany's UK stores between FY25 and FY28

** Brokerage also sees housing conditions improving in Australia, which it expects to drive company's top-line growth and operating leverage

** Citi maintains "buy" rating, with a PT of A$20.64

** Analysts on average rate the stock buy; with a median PT of A$18.50, according to data compiled by LSEG

** Shares last traded at A$19.040 and are up 26.9% YTD

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))