Morgans Blog | Morgans

Domino's Pizza: Delivering to plan

05 November 2020, 12:00 AM

DMP remains very well placed during COVID-19 and in its wake, however the stock has materially re-rated in recent months.

Adairs: Tough crowd

27 October 2020, 3:15 PM

All sales trends showed an acceleration from the August trading update, persisting at elevated levels. Despite a pretty exceptional update and material EPS upgrades, the share price declined.

Baby Bunting Group: A very healthy first trimester

30 October 2020, 12:00 AM

BBN’s 1Q21 trading update showed continued strength with regional strength outside of VIC reasonably consistent. BBN’s growth profile remains attractive backed by various drivers.

REA Group (ASX:REA) – Locking down the real estate market

08 September 2020, 3:21 PM

Given a severely impeded spring selling season in Victoria, 1H'21 is likely to be significantly weaker than expected. We believe the majority of these deferred listings will be captured in 2H, hence FY21 impact will be more muted.

Domino's Pizza: Set up to deliver

20 August 2020, 5:11 PM

A solid result in challenging conditions. We maintain a HOLD with a revised price target.

Coles Group: The cost of doing essential business

By Alex Lu

20 August 2020, 8:52 AM

Coles Group's (ASX:COL) FY20 result (pre-AASB16) overall was slightly above our expectations. Supermarkets EBIT rose 11% (+2% vs Morgans), Liquor EBIT was flat (+5% vs Morgans) and Express EBIT fell to -A$16m (Morgans -A$22m).

JB Hi-Fi: Demand will normalise but perhaps not off a cliff

19 August 2020, 2:40 PM

JB Hi-Fi's (ASX:JBH) result was in-line with sales/earnings guidance provided in mid-June, delivering very strong growth (2H NPAT +77% yoy). While no FY21 guidance was provided, July trading has accelerated further with JB Aust/TGG LFL sales >40%.

Super Retail Group – Supportive backdrop should play out for a while yet

04 August 2020, 5:00 PM

We think the recent tailwinds supporting Super Retail Group's (ASX:SUL) sales can continue over the next 12 months, providing a highly supportive sales/earnings backdrop for the group.