BUZZ - Shares of Australian Breville Group are set for their best single-day performance in over two months, as Citi reiterates its "Buy" rating

September 23 - ** Shares of Australia’s Breville Group (stock code: BRG.AX) rose as much as 3%, reaching AUD 30.235. If this trend holds, it would mark the largest percentage increase since July 29.

** Citi pointed out that, due to structurally high coffee prices, the kitchen appliance manufacturer will see a positive medium-term benefit.

** The brokerage added that rising coffee prices make buying a cup of coffee more expensive, prompting consumers to invest in home coffee-making appliances such as espresso machines, for which BRG is a manufacturer.

** Coffee prices remain high due to supply disruptions caused by the “super El Niño” phenomenon.

** Citi analysts reiterated a “Buy” rating, with a target price of AUD 40.80, implying about 39% upside from the previous closing price of 29.38 AUD.

** Out of 13 analysts, 12 rated the stock “Buy” or higher, and 1 gave a “Hold” rating; the median target price is AUD 37.30—LSEG data.

** The stock is up 2% year-to-date, including intraday fluctuations.

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