The company’s latest trading update has revealed the order book remains at record levels and Citi analysts point out this bodes well for 2H21.
Nick Scali remains the broker’s top small cap pick on the ASX. With operational momentum expected to continue, Citi analysts point out the shares are trading at an “undemanding” FY21 PE of 11x, accompanied by a dividend yield of 8%.
Target price lifts to $11.65 from $10.50 on higher market multiples and an increase in forecast profits.
Sector: Retailing.
Target price is $11.65.Current Price is $10.84. Difference: $0.81 – (brackets indicate current price is over target). If NCK meets the Citi target it will return approximately 7% (excluding dividends, fees and charges – negative figures indicate an expected loss).
