Citi trims Australia's Bapcor's PT on competition threat

Bapcor

25/03/2025 20:04

** Citi lowers its price target on automotive aftermarket parts retailer Bapcor BAP.AX citing competition concerns

** Maintains "neutral" rating at PT of A$5.43, down 4%

** Following visit to competitor Bunnings, brokerage expresses increasing concern about potential risk BAP's Autobarn might face from the competition

** Citi adds a 30-day Downside Catalyst Watch in anticipation of Bunnings' investor day, where unveiling of new auto range may further intensify competition

** 4 of 9 analysts rate the stock "buy" or higher and 5 as "hold"; their mean PT is A$5.52 – LSEG data

** Stock up 5.1% YTD

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))