0400 GMT - Guzman Y Gomez's bears at Goldman Sachs isn't getting too excited by the pace of the Australian fast-food operator's local expansion. The investment bank's analysts point out that the Mexican-themed chain needs to step up the pace of new store openings if it is to hit its reiterated target of 31 new Australian outlets across FY 2025. They observe that Guzman Y Gomez opened five in its fiscal 1Q, half the number it managed in 1Q FY 2024, a year in which it opened 23 new stores. GS has a last-published sell rating and A$33.20 target price on the stock, which is down 0.4% at A$38.56. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 11, 2024 00:01 ET (04:01 GMT)
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