0028 GMT - JB Hi-Fi's bull at Citi is waiting on the crucial December-quarter period before drawing conclusions about the Australian entertainment and appliance retailer's sales performance. Analyst Adrian Lemme tells clients in a note that September-quarter sales at all three of JB Hi-Fi's units are tracking ahead of average analyst forecasts. He says the retailer is showing good momentum but makes no changes to his forecasts ahead of the Black Friday and Christmas trading period. Lemme expects JB Hi-Fi to report 1H Australia sales growth of 6.5%, compared with 5% in its fiscal 1Q. Citi has a buy rating and A$85.00 target price on the stock, which is up 5.4% at A$82.12. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 30, 2024 20:28 ET (00:28 GMT)
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