2348 GMT - Collins Foods needs to raise menu prices despite improving sales momentum, Wilsons analysts tell clients in a note. They write that same-store sales growth at the fast-food franchiser's KFC Australia unit is showing sequential improvement on higher average transaction values. They reckon that margins are set to benefit from input-cost deflation and operating leverage, but that Collins's first-half result makes clear its need to further raise prices. Customer numbers will rise when economic conditions improve, they add. Wilsons cuts its target price 9.1% to A$10.72 but keeps an overweight rating on the stock. Shares are up 1.0% at A$8.33. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 03, 2024 18:48 ET (23:48 GMT)
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