2130 GMT - Investors' apparent pessimism over City Chic Collective's ability to hit its cost target leaves Citi analyst James Wang seeing scope for the Australian clothing retailer to beat full-year earnings expectations. Wang tells clients that the average analyst forecast of A$6.7 million in annual Ebitda implies an expectation that the women's apparel company fails to achieve its previously flagged cost savings in full. Wang is more confident, pointing to how clear City Chic has been about how it will achieve the savings. Citi cuts its target price by 20% to A$0.20 but keeps a buy rating on the stock. Shares are at A$0.11 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 14, 2025 16:30 ET (21:30 GMT)
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