Macquarie Research rate Dick Smith an outperform on the back of last week's Q3 trading update. Dick Smith (DSH) announced overall group third quarter like-for-like sales increased 1%. Like-for-like sales in the Australian business saw sales increase 2.4% in the quarter. Dick Smith (DSH) said it remains on track to meet is prospectus numbers and like-for-like sales growth of 3.0% in the fourth quarter for the Australian business. Macquarie anticipates the Q4 to be stronger than the most recent period and says is sees opportunity for significant re-rating as DSH management deliver on future growth forecasts. Dick Smith shares closed up 1.8% on Thursday following the release of the Q3 trading update.
Please sign in to comment on this wire.