Australia's ARB Corp up after Citi upgrade; brokerage sees boost from new vehicle sales

ARB

04/07/2025 06:29

** Shares of ARB Corp ABR.AX, which makes vehicle accessories, rise as much as 5.2% to A$34.9, their highest level since March 26

** Stock is currently trading 3.9% higher at A$34.46

** Citi upgrades the stock to "buy" from "neutral", but trims PT by 2% to A$38.70

** Brokerage sees pickup in new vehicle sales amid expectations of three more 25-bp rate cuts by the Reserve Bank Australia this year

** Expects co's 'BYD Shark' model accessories becoming available this year, which would be positive for the stock due to their popularity

** Stock is, however, down 14.8% YTD

 (Reporting by Anjali Singh in Bengaluru)

 ((anjali.singh2@thomsonreuters.com))