0140 GMT - Cettire's bear at RBC warns that the Australian luxury goods retailer may need to raise equity over the coming months as sales continue to disappoint. Analyst Wei-Weng Chen assesses Cettire's latest trading update and estimates that the company's working capital balance may have declined by between A$21 million and A$22 million over the past two months. The speed of the decline raises the prospect of a potential equity raise, Chen writes in a note. He thinks that the size of the earnings miss indicated by the trading update means that Cettire was probably compelled to make an announcement under its continuous disclosure obligations. RBC has a last-published underperform rating and A$0.50 target price on the stock, which is down 30% at A$0.3275. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 11, 2025 21:40 ET (01:40 GMT)
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