Citi has upgraded two retailers from Sell to Neutral this morning due to flat rental growth

Livewire Equities

Citi has upgraded two retailers from Sell to Neutral this morning due to flat rental growth. Oroton Group (ASX: ORL) and Premier Investments (ASX: PMV) have been upgraded due to improved rent-to-sale ratios. For Premier Investments, Citi lifted its FY14 earnings forecast by 3% whilst saying its struggling casual wear division continues to be a drag on earnings despite Smiggle's success. For Oroton, competition from other retailers remains a concern but the broker lifted its FY14 earnings by 4%. It also mentioned that upside could come by using excess cash for an acquisition.


About this contributor

Livewire Equities

Livewire Equities

, Livewire

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

Australia equities

Comments

Please sign in to comment on this wire.