Collins Foods upgraded to Buy from Neutral at Citi

Citi analyst Sam Teeger upgraded Collins Foods (CLLFF) to Buy from Neutral with a price target of A$9.38, up from A$7.88. Citing same-store sales growth underpinned by improved execution and cost of goods sold tailwinds, the firm sees a pathway for improved medium-term profitability for the core KFC Australia franchise, the analyst tells investors.