Broker Watch
Yowie Group is an accumulate at Hartleys with a 12-month price target of $1.49 a share. "Overall retail sales of Yowie for the September quarter reached $US4.8 million, more than double the previous quarter. The largest driver of the improvement was the Walmart rollout (only begun in September) with Yowie also being sold in a further 44 active accounts. One of the key drivers of share price performance over the next six months will be YOW management delivering on new accounts. Beyond Walmart, Yowie is also being sold by 44 other retail chains with a total addressable store count of over 30,000. The Walmart rollout provides validation of the Yowie product. We believe this, together with the recent hire of additional sales people, greatly increases the likelihood that sales will increase from existing accounts and new accounts."
YOW Price at posting:
$1.16 Sentiment: Hold Disclosure: Held
