Citi cuts CAR Group price target as US earnings outlook sours

Car

27/04/2026 04:56

** Analysts at Citi lower price target for Australia's CAR Group CAR.AX by 5% to A$34.70, maintains 'buy' rating

** Stock down 1.7% to A$25.25, on track for its lowest closing since April 15

** Citi expects FY26 NPAT to be slightly down, while lowering FY27 and FY28 earnings forecast by 2% and 3% respectively

** Attributes lower FY27 and FY28 earnings forecast to declining FY27 growth estimate for co's U.S. digital marketplaces business Trader Interactive, foreign exchange headwind and lower operating expenditure growth - Citi

** CAR down 17.5% YTD

 (Reporting by Keshav Singh Chundawat in Bengaluru)

 ((Keshav.singhchundawat@thomsonreuters.com))