PREMIER INVESTMENTS

PMV
End-of-day quote. End-of-day quote  - 04/22
26.93AUD +0.07%

Morgan Stanley : rates PMV as Equal-weight

01/18/2021 | 08:31pm

In the wake of Premier Investments' first-half record profits, Morgan Stanley expects near-term momentum is likely to continue into the second half.

The broker assesses the material beat was largely driven by a robust consumer environment and online sales increasing 60% year-on-year. 

While Morgan Stanley lifts EPS forecasts by 19-53% for FY21-23, the broker believes the prospect of negative EPS growth in FY22 is likely. 

Equal-weight rating with the target price increased to $24 from $18.40. Industry view: In-Line.

Sector: Retailing.

Target price is $24.00.Current Price is $23.50. Difference: $0.50 - (brackets indicate current price is over target). If PMV 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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