2255 GMT - Accent Group's bull at Citi thinks it is increasingly likely that the footwear and fashion retailer is tasked with running Sports Direct in Australia. Analyst Sam Teeger tells clients in a note that Accent has confirmed that it is in active discussions with Sports Direct owner Frasers Group for a long-term strategic agreement. Teeger cautions that any agreement remains subject to the companies settling on commercial terms, but nonetheless sees the move as a likely near-term catalyst for the Australian retailer. Frasers has a 15% stake in Accent, he reminds investors. Citi has a "buy" rating and A$2.57 target price on the stock, which is at A$1.795 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 26, 2025 18:55 ET (22:55 GMT)
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