0006 GMT - Premier Investments' multiple growth levers and the potential for capital management keep its bulls at Morgan Stanley onside following the retail conglomerate's first-half result. MS analysts tell clients in a note that a valuation multiple of 15 times fiscal 2026 earnings is attractive given the company's high-profile consumer brands. They like the potential for growth from sleepwear chain Peter Alexander's overseas expansion and point to Premier's A$250 million net-cash position following the divestment of its apparel brands portfolio. Sales momentum is improving into Premier's fiscal 2H, thy say, and keep an overweight rating on the stock. They trim target price by 7.8% to A$29.50. Shares are down 0.75% at A$21.05. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 24, 2025 20:06 ET (00:06 GMT)
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