Jefferies suggests management change for Bapcor, cuts PT

Bapcor

06/05/2024 20:15

** Jefferies is underconfident with current Bapcor  BAP.AX  
management and says "board change is required" as it lowers
price target to A$5.30 from A$7.15
    ** Brokerage "makes material cuts" to its FY24-26 margins
forecast with modest cuts in trade but material change in
retail, specialist wholesale and New Zealand segments
    ** Brokerage downgrades rating to "hold" from "buy"
    ** Three of 10 analysts rate the stock "buy" or higher,
seven "hold"; their median PT is A$4.89 – LSEG data
    ** Stock has fallen 16.2% YTD

 (Reporting by Rajasik Mukherjee in Bengaluru)
 ((Rajasik.Mukherjee@thomsonreuters.com;))