BUZZ-Australia's Premier Investments gains; MS positive on growth prospects
ReutersFeb 4, 2025 2:15 AM
Shares of Australia's Premier Investments PMV.AX gain 3.6% to A$24.52; their highest since Jan. 10
Analysts at Morgan Stanley say the risk/reward scenario is compelling for the firm based on a mix of high quality consumer brands, with multiple growth levers and capital management options
Interest rate cuts also provide earnings upside risk for PMV - Brokerage
MS likes co's Peter Alexander and Smiggle brands given they offer differentiated value propositions in niche categories, backed by innovation and branding
PMV recently merged its Apparel brands with peer Myer MYR.AX, brokerage lowers PT to A$32 from A$37.5 on account of removing the Apparel brands
PMV up 0.3% YTD
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