2219 GMT [Dow Jones]--Collins Foods loses its bull at Citi on worries that rising interest rates and higher fuel prices will hit Australian fast-food operators. Lowering his recommendation to neutral from buy, analyst Sam Teeger reminds clients that many observers had incorrectly expected quick-service restaurants to benefit from consumers seeking out cheaper options during Australia's last interest-rate hiking cycle. "We see no reason why this would change this time around," he writes in a note. Target price falls 19% to A$10.45, with Citi applying a 25% earnings discount on sector-wide risks. Shares are at A$9.48 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 23, 2026 18:20 ET (22:20 GMT)
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