Collins Foods Ltd

CKF: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$97.70	Wfxy	Znxyqdmvl

Collins Foods Earnings: Resilience of the KFC Brand on Display

Johannes Faul

Nov 28, 2023

We raise our fair value estimate for shares in no-moat Collins Foods by 3% to AUD 14.40, with shares screening as significantly undervalued. Our upgrade is due to the time value of money and a marginally better sales outlook. The Australian store rollout is tracking ahead of expectations, and we now anticipate 12 stores will open in fiscal 2024, up from 10.

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