Briscoe Group Transfer of Analyst Coverage: Fair Value Estimate and Forecasts Unchanged
We transfer analyst coverage of New Zealand-listed Briscoe Group. At this stage, we reaffirm our current forecasts, DCF-based fair value of NZD 3.00 per share and our no-moat and high uncertainty ratings. The stock is currently trading at a 27% premium to our fair value estimate. We forecast a 5-year CAGR in EPS of 6.1% to fiscal 2021.The Briscoes Homeware and Rebel Sport retail chains are performing like well-oiled machines with proven "price-up to mark-down" models customers know well. The st...
Briscoe Group is a non-trading holding company. Co. is engaged in the provision of management services to its subsidiaries. Through its principal trading subsidiaries, Co. is engaged in selling homeware products and retailing sporting goods. Co. operates two operating segments: Homeware and Sporting Goods. As of Jan 31 2010, Co. had 58 Homeware stores and 32 Sporting Goods stores located throughout New Zealand.
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