Australia's Super Retail falls after Macquarie trims PT, sales outlook

SUPER RETAIL

14/05/2024 04:30

** Shares of Super Retail Group  SUL.AX  fall as much as
0.7% to A$13.36 after Macquarie trims price target and sales
growth estimate
    ** Brokerage cuts PT by 13.8% to A$13.80 for the Australian
retailer
    ** Macquarie says total sales growth for FY24 year-to-date
was 2%, below its forecast of 2.8%
    ** For FY24, we reduce our total sales forecast to 2.2%
(from 2.8%) - Macquarie
    ** Four of 14 analysts rate stock "buy" or higher, eight
"hold" and two "sell"; their median PT is A$14.89 - LSEG
    ** SUL stock down 14.7% YTD, as of last close
 

 (Reporting by Ayushman Ojha in Bengaluru)
 ((Ayushman.ojha@thomsonreuters.com;))