0034 GMT - Nick Scali's bull at Citi isn't too concerned by the challenging U.K. market hinted at by a rival's trading update. London-listed DFS expects consumer caution to skew its annual profit toward its fiscal second half, but Citi Analyst Sam Teeger reckons that Australia's Nick Scali's near-term U.K. performance is more likely to be driven by store refurbishments and its scale. Teeger tells clients in a note that his main concern for Nick Scali centers on the potential impact of elevated interest rates on housing markets. Citi has a buy rating and A$15.31 target price on the stock, which is down 0.5% at A$15.05. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 19, 2025 19:34 ET (00:34 GMT)
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