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Cettire Limited (ASX: CTT)
Global online retailer Cettire Limited (ASX: CTT) is engaged in offering a large selection of in-demand personal luxury goods via its website, cettire.com.
Recommendation Rationale – SELL at AUD 3.105
CTT Daily Chart
Valuation Methodology: Price/Earnings Approach (FY24E) (Illustrative)
Given that CTT’s Average Order Value (AOV) of AUD 731 in Q1FY24 is less than FY23’s AOV of AUD 747, economic downturn, etc, the company might trade at a slight discount to its peers. For valuation, few peers like Temple & Webster Group Ltd (ASX: TPW), Lovisa Holdings Ltd (ASX: LOV), Accent Group Ltd (ASX: AX1) and others have been considered. Considering the current trading levels, risks associated, downside indicated by the valuation, it is prudent to book profit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the current price of AUD 3.105, as of November 15, 2023, at 3:30 PM AEDT.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 15 November 2023. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
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