Australia's ARB Corp rises as Q1 profit growth beats consensus

ARB

19/10/2023 02:18

** Shares of Australia's ARB Corp  ARB.AX  rise as much as
3.2% to A$30.3, best intraday gain most since Oct 10
    ** Analysts at Citi say co's 10% NPAT growth in Q1 beat
Visible Alpha consensus expectations 
    ** Says beat appears to be driven by lower profit margins 
    ** Citi has PT of A$24.4 and rates the stock "sell"
    ** Stock up 14.3% this year, as of last close

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