BUZZ-Australia's KFC operator Collins Foods slips; Citi sees downside risks to same-store sales growth

Reuters
23 May
BUZZ-Australia's KFC operator Collins Foods slips; Citi sees downside risks to same-store sales growth

** Shares of Collins Foods CKF.AX fall 1.9% to A$7.91, lowest since April 15

** Citi says results from peer Restaurant Brands New Zealand RBD.NZ show that recovery in the ANZ consumer market may take longer than anticipated

** Restaurant Brands New Zealand at its AGM on Friday said it expects recovery in Australia to "remain gradual"

** Citi therefore sees downside risk to market consensus around same-store-sales growth for Collins Food's KFC Australia business

** Brokerage has a "buy" rating on CKF and A$9.60 PT

** Stock up 9% YTD, including current session's moves

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))

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