S&P/ASX 300 Index (ASX: XKO) shares are slightly in the red on Wednesday, down 0.18%.
As reported in The Australian today, RBC Capital has just commenced coverage on 3 retail shares within the ASX 300.
The broker's 12-month share price targets are above each stock's current share price.
This indicates they may offer value to ASX investors looking to buy ASX 300 retail shares today.
Of course, retail stocks may look risky right now given high inflation and interest rates are putting a squeeze on consumer spending.
It's therefore not surprising that only one of these ASX 300 retail shares has scored an outperform rating over the forecasted 12-month period.
Let's review.
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Accent Group Ltd (ASX: AX1)
The shoe retailer attracted an outperform rating from RBC Capital. The broker has commenced coverage on the retail stock with a 12-month share price target of $2.20.
The Accent share price is 0.8% lower at $1.85 at lunchtime on Wednesday. If the broker is right, ASX investors who buy Accent shares today stand to make a 19% gain over the next 12 months.
Cettire Ltd (ASX: CTT)
RBC has given this luxury goods online retailer a 12-month price target of $2.75. The Cettire share price is 1.6% higher at $2.58 at the time of writing. Thus, the target price implies a potential upside of almost 7%.
RBC Capital commences its coverage of the ASX 300 retail share with a 'sector perform' rating. This follows an extraordinary period of share price growth for Cettire, with the stock skyrocketing 718% over the 12 months to 30 June 2023. This made Cettire the top-performing All Ords stock of FY23.
Lovisa Holdings Ltd (ASX: LOV)
Lovisa has been a darling of ASX 300 retail stocks in recent times, and easily one of the sector's best performers during this inflationary climate. However, RBC thinks Lovisa's performance will moderate from here, given the broker's starting rating of sector perform.
RBC Capital commences its coverage with a 12-month price target of $20 for the ASX 300 retail share. This implies a potential upside of almost 13% given the Lovisa share price is currently $17.74, down 0.6%.
