Jefferies ups PT on Australia's Carsales.com after higher H1 results

CAR

14/02/2022 23:46

** Jefferies raises price target on the Australian online
automobile classifieds firm  CAR.AX  to A$30.26 from A$29.73,
maintains "buy" rating
    ** CAR reported higher H1 sales and profit on Monday, and
forecast solid growth in FY22  urn:newsml:reuters.com:*:nL4N2UO0VP
    ** "We continue to like CAR given about one-third of
earnings come from offshore, and it will benefit from structural
shift towards online car buying," Jefferies analysts say in a
note
    ** Management tweaked the wording for segmental outlook but
nothing has changed for the overall business in H2 - Jefferies
    ** Five of 15 brokerages rate the stock "buy" or higher,
seven "hold" and three "sell" or lower; median PT is A$24.02
    ** Up to Monday's close, stock down 13.5% this year

 (Reporting by Shashwat Awasthi)
 ((Shashwat.Awasthi@tr.com
mailto:Shashwat.Awasthi@thomsonreuters.com))