0338 GMT - Bell Potter analyst Chami Ratnapala's optimistic view of the Australian consumer landscape doesn't mean she is overly positive on Kogan.com's near-term prospects. Ratnapala is conservative on the online retailer's likely performance in the upcoming mid-year sales period, stressing the impact of fierce competition. She tells clients in a note that Kogan.com's adjusted earnings for the four months through April fell short of her expectations due to marketing costs and technology issues. Bell Potter cuts its target price 10% to A$4.50 and keeps a hold rating on the stock. Shares are down 1.7% at A$3.95. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 21, 2025 23:38 ET (03:38 GMT)
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