Australia's Bapcor slips, Citi downgrades co to 'sell' as outlook remains cloudy

Bapcor

15/05/2026 06:08

Updates

** Shares of Bapcor BAP.AX fall as much as 5.4% to A$0.398

** Stock falls ~29% on week, marking its worst week since late-February

** Citi downgrades rating for BAP to "sell",  slashes target price by 47% to A$0.40 a day after trimming annual earnings view

** Brokerage also cuts EPS estimate by 45%, 83% and 44% for fiscals 2026, 2027 and 2028, respectively

** Auto parts retailer on Thursday said co expects FY26 underlying EBITDA (post AASB16) of A$144 million-A$150 million ($104.01 million-$108.35 million) vs earlier forecast of A$150 million-A$160 million

** Also attributed outlook cut to material deterioration in trading conditions since late March with the start of the Middle East conflict and increase in interest rates

** Down 73.3% YTD

($1 = 1.3845 Australian dollars)

 (Reporting by Anjali Singh and Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))