2212 GMT - Collins Foods gets a new bull at Citi on what analyst Sam Teeger sees a pathway to medium-term profitability for the Australian fast-food franchiser's core operations. Teeger tells clients in a note that the improved outlook centers on an expectation that same-store sales growth has passed an inflexion point and that costs are switching from a headwind to a tailwind. He says that an undemanding year-earlier period means that same-store sales growth should accelerate over the remainder of fiscal 2025, with earnings margins then expanding in fiscal 2026. Citi raises its recommendation to buy from neutral, and lifts target price 19% to A$9.38. Shares are at A$8.25 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 03, 2024 17:13 ET (22:13 GMT)
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