Citi raises PT on Super Retail after FY23 results beat

SUPER RETAIL

17/08/2023 21:19

** Brokerage Citi raises price target on specialty retailer
Super Retail Group  SUL.AX  after company's upbeat fiscal 2023
results
    ** Raises PT to A$13.50 from A$12.00; retains "neutral"
rating on stock
    ** Company posts FY23 underlying net profit after tax (NPAT)
of A$273.5 mln ($175.12 mln), 3% above consensus estimate
    ** SUL's FY revenue from ordinary activities up 7.1% at
A$3,802.6 mln
    ** Company declares final dividend of 44 Australian cents
per share
    ** "We raise our earnings forecasts by 2% in FY24 and FY25"
- Citi
    ** Stock up 28.1% this year, as of last close
    

($1 = 1.5618 Australian dollars)

 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com))