Kogan.com Ltd
KGN: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$18.10 | Tdld | Qqvsjlfpk |
Kogan: Tentative Signs of Sales Growth, Despite a Weakening Consumer
We maintain our fair value estimate on no-moat Kogan at AUD 10.70 per share. Shares screen as significantly undervalued. Despite encouraging improvements, the market appears cautious over Kogan’s ability to expand profit margins and its long-term sales growth potential, which we expect to be underpinned by a structural shift to e-commerce.