Premier Investments Stock Dips as Macquarie Slashes Price Target

Thu 13 Mar 25, 03:24 AM | Team Kalkine

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Highlights

Shares of Premier Investments (ASX:PMV) slipped 1.1% to AU$21.08 on Thursday after analysts at Macquarie lowered their price target on the stock by 25.5% to AU$21.61, citing earnings concerns following the company's apparel business divestment.

The revised target reflects the impact of Premier's decision to sell its apparel brands — including Just Jeans, Portmans, and Dotti — to Myer Holdings (ASX: MYR) for approximately AU$863.8 million ($546 million). While the deal will bring in substantial cash, it strips Premier of a key revenue stream, prompting Macquarie to slash earnings estimates by 12.3%, 24.3%, and 25.6% over the next three years.

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