0106 GMT - Kogan.com's bull at RBC Capital Markets is pleased with the online retailer's top line in a trading update that sparked a sharp sell-off of its Australia-listed shares. RBC Capital Markets analyst Wei-Weng Chen tells clients in a note that fiscal first-half gross sales, revenue and gross profit were stronger than he had anticipated. Ebitda missed his forecast by 7.3% but he reckons that this is only down to increased marketing spend and now-resolved tech issues. He is looking at the update positively. RBC has an outperform rating and A$6.00 target price on the stock, which is down 13% at A$5.175. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 20:06 ET (01:06 GMT)
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