Morgan Stanley expects Bapcor stock to be softer post management transition twist

Bapcor

01/05/2024 02:06

** Analysts at Morgan Stanley expect Australia's Bapcor
 BAP.AX  stock to trade softer in the near-term
    ** BAP on Tuesday said Paul Dumbrell will not be commencing
as CEO and managing director as anticipated on May 1
    ** Brokerage feels market will be genuinely surprised by the
latest twist in the management transition at the auto parts
maker
    ** The recent announcement creates additional uncertainty
for co, MS says
    ** Bottom line is we feel the market was supportive of Paul
Dumbrell's appointment and we see this a likely lengthening of
the timeline for a turnaround - MS
    ** BAP shares are currently on a trading halt

 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))