'Start your engines' as Aramis rises amid flurry of bullish notes
28/07/2021 09:41
** Stellantis-owned Aramis Group ARAMI.PA rises 3% amid a
flurry of "buy" initiations from Societe Generale, Citigroup and
Morgan Stanley, all citing the second-hand car dealer's good
market position
** SocGen ("buy") says the group's "proven process and
pragmatic management" can put it into a good position to
capitalise on the growing used car market
** Aramis has its own refurbishing centres and uses a
diversified supplier network, SocGen adds, pointing to rising
digitalisation in Aramis' operating areas like France, UK
** It sees Aramis' market benefiting from the shift online,
and notes it is a sector that many operators can thrive in
** Citigroup ("buy") cites the group's competitive pricing
and solid position in the online used car market in France
** The broker says Aramis' gross margins show an efficient
operation, with it being able to exploit the pricing
inefficiencies between different European markets
** Morgan Stanley ("overweight") sees Aramis as
well-positioned to lead European used car market consolidation
(Reporting by Antonis Pothitos)
((antonis.pothitos@thomsonreuters.com))