Analysts at Citi have increased their earnings estimate and price target for Australian fashion retailer Universal Store Holdings (ASX:UNI) based on better-than-expected sales predictions and robust cost management.

The brokerage has upped its FY24-FY26 NPAT estimates for Universal Store by 2% to 6%.

Additionally, it has revised the price target up to A$5.30 from A$3.93 while maintaining a ‘buy’ rating.

Projections estimate positive like-for-like sales of 3% and 10% for Universal Store and Perfect Stranger respectively in the second half of 2024.

Among the ten analysts covering the stock, eight rate it ‘buy’ or higher, two maintain a ‘hold’ stance, and none suggest ‘sell’ or lower.

Their median price target is A$4.70.

Universal Store has seen an 8.7% upswing year-to-date, as of the last close.

Universal Store Holdings (ASX:UNI) is a leading Australian fashion retailer.