Citi analysts have revised their Price Target on Collins Foods (ASX:CKF), a major operator in Australia’s fast food industry.

They now see the target as A$11.25 per share, down from a previous projection of A$12.8.

The financial firm has also adjusted Collins Foods' projected net profit after tax, cutting it by 2% to 4% for the fiscal years 2024 through 2026.

These reductions reflect an outlook of diminished sales and increased operational costs for the company.

Citi expresses a certain caution towards the firm, stating that they would like to see how Collins Foods adapts to economic pressures before adopting a more positive stance.

Of the analysts following the stock, five rate it as ‘buy’ or higher and five rate it as ‘hold.’ Their median price target is at A$10.30, according to Refinitiv data.

As of the most recent closing, Collins Foods' stock has risen by 40.1% this year.

Collins Foods (ASX:CKF) is an Australia-based operator of KFC franchises.