A number of economic indicators suggest to UBS a stronger consumer with intentions to spend on retail. The broker expects Super Retail Group will enjoy a strong post lockdown recovery, and after upgrading EPS forecasts lifts its rating to Buy from Neutral.
Moreover, the share price has slipped -11% since the FY21 result. UBS lifts its target price to $13.50 from $13.20.
Sector: Retailing.
Target price is $13.50.Current Price is $11.49. Difference: $2.01 – (brackets indicate current price is over target). If SUL meets the UBS target it will return approximately 15% (excluding dividends, fees and charges – negative figures indicate an expected loss).
