Morgan Stanley sees sustained momentum in sleepwear brand as Premier Investments posts in-line FY results

Premier Investments

29/09/2025 01:50

** Morgan Stanley says Premier Investments' PMV.AX FY results aligned with its estimates, citing sustained momentum for the sleepwear brand Peter Alexander (PA) alongside green shoots emerging in the stationery brand Smiggle

** Adds that PA's UK operations also tracking in line with forecasts, with store size and range expansion, among others, to drive future growth

** Turnaround in Smiggle pushed out despite improvement in sequential sales growth - MS

** Brokerage maintains "overweight" rating with A$26 price target, saying two undervalued brands possess sustained growth potential

** Seven of 12 analysts rate the stock "buy" or higher, while the rest rate it "hold"; their mean PT is A$23.63 – LSEG data

** Shares up as much as 0.9% before retreating to trade flat

** Shares have fallen 19.3% YTD, including the current session

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk http://www.x.com/thatstanishk;))