Following KMD Brands' recent profit warning, Morgan Stanley has revised forecasts, resulting in a target cut to 90c from $1.05.

The broker sees upside risk to medium term forecasts if KMD can execute on its targets, but suggests the near-term remains
challenging given the uncertain macro backdrop.

Equal-weight retained.

Sector: Retailing.

Target price is $0.90.Current Price is $0.88. Difference: $0.02 - (brackets indicate current price is over target). If KMD meets the Morgan Stanley target it will return approximately 2% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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