0347 GMT - Australian fast-food franchiser Retail Food Group keeps its bull at Bell Potter despite a challenging trading environment. Analyst Chami Ratnapala tells clients in a note that RFG's net new outlet growth was weak, but that the company has improved the quality of its domestic portfolio and looks better placed for future growth. She thinks the outlook will start improving in the June quarter, and flags the potential impact of possible interest-rate cuts on consumer demand. Bell Potter trims its target price 4.5% to A$0.105 and keeps a buy rating on the stock, which is up 1.4% at A$0.073. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 01, 2024 22:47 ET (03:47 GMT)
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