Australia's Bapcor falls as Citi lowers 2026 earnings forecast on higher costs

Bapcor

01/09/2025 01:47

Updates

** Shares of auto parts retailer Bapcor BAP.AX fall as much as 3% to A$3.860

** Citi cuts its fiscal 2026 net profit after tax estimates for Bapcor BAP.AX on higher costs

** Says "lack of any FY26 trading update or earnings guidance, may test investor patience"

** Citi considers Bapcor's trade segment to be its highest quality business

** Brokerage estimates company's trade EBITDA to rise by 10% in fiscal 2026

** Co maintains neutral rating as unexpected board

departures have offset logical strategic initiatives taken by co

** Citi, however raises fiscal 2027 NPAT forecast by 10%

** Hikes target price to A$4.35 from A$3.90

** Two of 10 analysts rate the stock "buy" or higher, seven "hold" and one "sell" or lower; their median PT is A$4 – LSEG data

** Stock down over 18% this year, including day's moves

(Reporting by Rajasik Mukherjee in Bengaluru)

((Rajasik.Mukherjee@thomsonreuters.com))