Macquarie Research rate Dick Smith an outperform on the back of last week's Q3 trading update

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.