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Jimmy Choo Share News (CHOO)
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Don't have an account? Click here to register.RBC reiterates 'outperform' rating, lifts target price on Jimmy Choo
Fri, 09th Sep 2016 08:53
(ShareCast News) - RBC Capital Markets reiterated an 'outperform' rating on Jimmy Choo and raised its target price to 160p from 150p as the broker upgraded its earnings forecasts on the luxury shoe maker.Following Jimmy Choo's first half results on 25 August, RBC believes there are two positive changes for the company's investment case. These include the increased chance franchise conversions will drive growth in revenues and gross margin and the group's commitment to improving profits with an "ambitious" 20% earnings before interest, tax, depreciation and amortisation (EBITDA) margin target."These provide additional support for the Jimmy Choo equity story driving 15% earnings per share compound annual growth rate to fiscal year 2020, amongst the best in our coverage," said RBC.RBC said Jimmy Choo looks increasingly likely to convert franchise stores in South Korea and in the Middle East, which is a "positive catalyst for the stock in our view". The group is also planning to open 10-15 stores per year which could reach 200 directly operated stores by 2019 and complete the company's store renovation plan by 2020.Meanwhile, RBC also expects Jimmy Choo will meet its financial targets, apart from a 20% EBITDA margin, which appears "slightly stretched on our base assumptions"."We may be too prudent on selling and distribution cost leverage stemming from the maturity of new stores, which if properly executed could provide potential further upside to our EBITDA margin outlook."RBC raised its EBITDA forecasts for fiscal years 2017 and 2018 by 3% and 6%, respectively, as direct selling expenses are expected to be offset by overhead cost leverage and gross margin support.The broker reckons Jimmy Choo has entered a potential re-rating cycle, with shares up 22% in the past month relative to its circa 5% EPS upgrades."The stock now trades at 16.3x fiscal year 2017 price-earnings ratio (versus 14.6x in mid-August), however still trades at a 15% discount to the luxury sector."We believe sentiment has improved given earnings upgrades, ambitious targets and improved understanding of the equity story."Shares dipped 0.59% to 127p at 0845 BST.
More News
21 Nov 2016 19:55
Monday broker round-up
(ShareCast News) - Randgold Resources: UBS reiterates buy with a target price of 9750p. AA: Goldman Sachs reiterates buy with a 370p target. Jimmy Choo: Barclays stays at equal-weight with a 140p target. Esure: Barclays reiterates overweight with a 247p target. Easyjet: UBS keeps at buy with a 11
Read more18 Nov 2016 07:41
Jimmy Choo revenue grows, on track for full year
(ShareCast News) - Luxury retailer Jimmy Choo reported revenue growth for the second half on Friday and said it was on track to deliver full-year underlying profits in line with expectations. In an update on trading since the end of June, the company said it was seeing revenue growth despite the con
Read more9 Oct 2016 16:22
Sunday share tips: Provident Financial, Jimmy Choo
(ShareCast News) - The top brass at Provident Financial did nicely for themselves in the wake of Brexit, picking up stock in the doorstep lender on the cheap. Chief Peter Crook, Vanquis bank president Chris Sweeney and corporate affairs boss Nick Boakes bought into the shares after they lost 26% of
Read more23 Sep 2016 09:39
Broker tips: Persimmon, Jimmy Choo, ASOS
(ShareCast News) - Housebuilder Persimmon and its peers got a boost on Friday as Liberum upgraded the stock to 'buy' from 'hold' and lifted price targets across the sector as it took a more positive view. "We have upgraded estimates across our coverage as 2016 trading is much better than we feared i
Read more23 Sep 2016 08:44
BofA ML upgrades Jimmy Choo to 'buy'
(ShareCast News) - Jimmy Choo got a boost on Friday as Bank of America Merrill Lynch upped the stock to 'buy' from 'neutral' and lifted the price target to 150p from 130p. It pointed out that although the stock offers the highest estimated earnings growth in the luxury sector, it trades at a 30% dis
Read more13 Sep 2016 06:53
Tuesday newspaper round-up: Jobs boost, Brainard caution, recovery 'mirage'
(ShareCast News) - Britain's employers have refused to panic following the referendum vote, but new jobs are likely to become increasingly scarce as concerns over Brexit talks undermine business confidence. Recruitment agency Manpower said that, on the surface, the EU referendum had done little to d
Read more8 Sep 2016 16:41
Director dealings: Jimmy Choo CEO takes some profits
(ShareCast News) - Jimmy Choo chief executive Pierre Denis sold £400,000 worth of shares in the shoe maker a few days after interim results sent the shares strutting to their highest level since late April. Denis, who has been CEO since July 2012, sold 100,000 shares at a price of 125.625p apiece, t
Read more7 Sep 2016 10:31
Wednesday broker round-up
(ShareCast News) - Centrica: Goldman Sachs downgrades to sell with a target price of 213p. Ashmore: Barclays maintains underweight with a 270p target. Aviva: UBS upgrades to buy with a 505p target. Polymetal: Berenberg reiterates buy with a 1200p target. SSE: Goldman Sachs keeps at neutral with a
Read more30 Aug 2016 16:24
Directors dealings: Jimmy Choo boss picks up more stock
(ShareCast News) - Jimmy Choo boss Pierre Denis added to his stake in the luxury shoe and fashion accessories-manufacturer after excercising an option worth a total nominal consideration of £1.0m. Dennis excercised options over 439,801 shares of 100p each, while simultaneously selling 206,740 shares
Read more25 Aug 2016 08:48
Jimmy Choo first half boosted by Asia, men's offering
(ShareCast News) - Luxury shoe retailer Jimmy Choo reported a jump in revenue and operating profit for the first six months of the year thanks to strong growth in Asia and a good performance from the men's category. For the six months to the end of June, revenue was up 9.2% at reported currency to £
Read more25 Aug 2016 06:44