Brokerage Citi positive on Nick Scali's UK business
ReutersMay 20, 2025 8:02 PM
Analysts at Citi see positive medium-term tailwinds for Australia-based Nick Scali's NCK.AX UK business
Brokerage continues to see market recovery in the UK due to interest rate cuts and housing transaction growth, supporting its forecast for per-store sales uplift of 41% in comany's UK stores between FY25 and FY28
Brokerage also sees housing conditions improving in Australia, which it expects to drive company's top-line growth and operating leverage
Citi maintains "buy" rating, with a PT of A$20.64
Analysts on average rate the stock buy; with a median PT of A$18.50, according to data compiled by LSEG
Shares last traded at A$19.040 and are up 26.9% YTD
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