Tiger Brokers

BUZZ-Shares of Australia's City Chic Collective slip after Citi cuts PT

Reuters
Jan 15

(Updates with share moves)

** Shares of Australia's City Chic Collective falls 2.3% to A$0.1075 in above-average trading volumes

** Citi cuts PT to A$0.2 from A$0.25; keeps "buy/high risk" rating

** Citi says the retailer will find it difficult to meet its FY25 forecast, though a strong dollar could boost US earnings

** Still, adds CCX can beat FY market estimates, which were lowered after results, and on optimism in its cost-saving plan

** Around 2 mln shares traded, 1.5x the 30-day avg

** Stock fell as much as 9.1% earlier in the day; it gained on Mon after the company reported H1 results

(Reporting by Nikita Maria Jino and Kumar Tanishk in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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