BUZZ-Citi 'supportive' of Australia's Collins Foods' acquisition of KFC restaurants

Citigroup Inc. -0.42% Pre

Citigroup Inc.

C

124.39

122.00

-0.42%

-1.92% Pre

** Citi "supportive" of Australia's Collins Foods' CKF.AX acquisition of eight KFC restaurants in Germany

** On Wednesday, the restaurant operator signed agreement to acquire eight KFC restaurants in Bavaria

** Brokerage says acquisition is a positive for co as it helps geographic expansion and improves margins

** "Collins’ execution is strong in this market" — Citi

** Citi maintains "buy" rating, keeps PT at A$12.85

** Eight of 11 analysts rate the stock "buy" or higher, three "hold"; their median PT is A$12.4 — LSEG data

** Stock down 9.1% YTD, as of last close


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