Citi upgrades earnings view, PT for Australia's Autosports Group

Autosports

29/02/2024 19:43

** Citi raises its profit before tax (PBT) forecasts for
Australian automotive dealer co Autosports Group  ASG.AX ,
reflecting stronger revenue as used car trade-in ratios improve 
    ** Brokerage also lifts its price target slightly to A$3.15
from A$3.10; retains "buy" rating 
    ** Upgrades its FY24-26 PBT forecasts by 5-9%
    ** Says it views co's concentration on the luxury segment as
best placed to drive through the challenging outlook for
dealership industry
    ** All of six analysts rate the stock "buy" or higher; their
median PT is A$3.15 – LSEG data
    ** Stock down 0.4% YTD, as of last close 

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))