Australia's CAR Group falls to 1-1/2-month low after new CEO appointment

CAR

17/07/2025 01:48

** Shares of CAR Group CAR.AX fall as much as 5.8% to A$35.26 per share, their lowest level since June 3

** The online vehicle marketplace operator appoints current CFO William Elliott as its new CEO

** Citi says any merger and acquisition deal for CAR Group CAR.AX is unlikely in the near term under Elliot

** Co also provides an estimated FY25 adjusted NPAT of A$376 million - A$380 million, which brokerage says is in line with Visible Alpha consensus

** Nine of 14 analysts rate the stock "buy" or higher, five rate it "hold"; median PT is A$39.7 - data compiled by LSEG

** YTD, CAR stock up 1.6% including moves inc current session

 (Reporting by Jasmeen Ara Shaikh in Bengaluru)

 ((JasmeenAraIslam.Shaikh@thomsonreuters.com;))