Accent Should Get More Time to Execute on Strategy -- Market Talk

Dow Jones
06/15

0431 GMT - Takeover target Accent should be given time to show it can execute on its current strategy, Citi analyst Sam Teeger reckons. Suitor Frasers says it wants Accent to conduct a strategic and financial review, but Teeger points out it was only last month that the Australian apparel retailer announced plans to generate up to A$20 million in net cost savings by fiscal 2028. Accent also flagged plans to optimize its store portfolio, he adds. Teeger tells clients in a note that it seems harsh for Frasers to pin Accent's challenges on its chairman given he was only appointed in November. Citi has a neutral rating on the stock and raises its target price 14% to 65 Australian cents, in line with Frasers' offer. Shares are up 15% at 74.5 Australian cents. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

June 15, 2026 00:31 ET (04:31 GMT)

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