PREMIER INVESTMENTS

PMV
End-of-day quote. End-of-day quote  - 09/23
27.63AUD +3.06%

Morgan Stanley : rates PMV as Equal-weight

03/24/2021 | 06:31pm

Premier Investments' delivered record profits in the first half, observes Morgan Stanley, reflecting strong consumer conditions and execution. Operating income was up 89% at $238m and higher than expected.

The broker expects this momentum to continue into the second half although admits earnings growth in FY22 is becoming increasingly challenging with the CEO transition adds further to the complexity.

Equal-weight rating with a target price of $24. Industry view: In-Line.

Sector: Retailing.

Target price is $24.00.Current Price is $23.84. Difference: $0.16 - (brackets indicate current price is over target). If PMV meets the Morgan Stanley target it will return approximately 1% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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