Home
CCX - UBS rates the stock as Buy
PUBLISHED
2022-03-21
Content
City Chic Collective's key US competitor Torrid released FY21 results slightly above consensus and raised prices to mitigate inflation, notes UBS.
The broker feels City Chic Collective is well placed to gain market share and has well diversified product sourcing. The latter is seen as relevant given Torrid's sales were impacted by supply chain and inventory issues.
The Buy rating and $5 target price are maintained.
Sector: Retailing.
Target price is $5.00.Current Price is $3.39. Difference: $1.61 - (brackets indicate current price is over target). If CCX meets the UBS target it will return approximately 32% (excluding dividends, fees and charges - negative figures indicate an expected loss).