Goldman Sachs says sell Premier Investments (ASX:PMV) shares into today’s big rally

Published

5 years ago

January 13, 2021

The Premier Investments Limited (ASX: PMV) share price is topping the leader board but Goldman Sachs thinks you should dump the stock now.

The PMV share price surged over 15% to $25.90 this morning and is the best performer on the S&P/ASX 200 Index (Index:^AXJO).

The apparel and stationery retailer is miles ahead of the Cimic Group Ltd (ASX: CIM) share price, which is in second spot.

The Oil Search Ltd (ASX: OSH) share price is in third position and both of these jumped by over 5% each.

PMV share price surges on trading update

The rocketing Premier share price comes on the back of a bullish trading update released this morning.

Management said that total sales jumped 5% in the first 24 weeks of 1H21 ended 9 January 2021 to $716.9…

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