Craigs upgrades Michael Hill to overweight after trading update

Michael Hill flagship store at Chadstone Mall in Melbourne, Australia. (Image: Supplied)

Thu, 24 Oct 2024

Craigs Investment Partners has upgraded Michael Hill International from neutral to overweight despite the jewellery sector facing headwinds.Alongside its annual general meeting (AGM) on Wednesday, the dual-listed jeweller added a trading update for the first 14 weeks of the 2024 financial year. Michael Hill shares closed on Wednesday up 3.6% at 57 cents and were unchanged in New Zealand Exchange (NZX) trading this morning. They remain 37% lower than they were last year. On Thursday morning, Craigs’ Kieran Carling kept the firm&#...

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