Macquarie lifts PT on Australia's GUD Holdings after 'positive' divestment

Amotiv

08/08/2023 24:35

** Analysts at Macquarie marginally raise price target on
Australia's GUD Holdings  GUD.AX  by 1% to A$11.75 per share
    ** The automotive firm on Monday announced a deal to divest
its Davey Water Products business to ASX peer Waterco  WAT.AX 
for A$64.9 mln ($42.67 mln)
    ** Brokerage says the divestment is positive and it removes
debt concerns around the company
    ** Adds divestment simplifies business structure of the
company and tranforms GUD to a pure-play automotive business
    ** Divestment increases balance sheet flexibility -
Macquarie
    ** Nine of 10 analysts rate the stock "buy" or higher and
one "hold"; their median PT is A$11.80 – Refinitiv data
    ** Stock up 36.8% this year, as of last close 

    ($1 = 1.5211 Australian dollars)

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))