Ahead of the investor briefing on March 16, Credit Suisse notes a very supportive industry backdrop. Moreover, the market appears to still be underrating the longevity of changes in consumer shopping habits.
Hardware has a strong cyclical tailwind and growth opportunities over the longer term and the supermarket trading update is expected to show strong double-digit growth. Outperform retained. Target rises to $4.08 from $3.97.
Sector: Food & Staples Retailing.
Target price is $4.08.Current Price is $3.59. Difference: $0.49 – (brackets indicate current price is over target). If MTS meets the Credit Suisse target it will return approximately 12% (excluding dividends, fees and charges – negative figures indicate an expected loss).
