2234 GMT - Premier Investments' first-half guidance raises questions at Citi over whether the Australian retailer can sustain growth at its Peter Alexander sleepwear business. Analyst James Wang wonders whether he and others have become too comfortable in assuming Peter Alexander can keep growing revenue at the same pace. He warns in a note to clients that it is impossible to be certain without further disclosure by the company. Lower growth at Peter Alexander has implications for longer-term earnings and Premier's valuation multiples, he adds. Citi lowers its target price on the stock 17% to A$30.00 and maintains a neutral rating. Shares are at A$27.78 ahead of the open.(stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 13, 2025 17:34 ET (22:34 GMT)
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