Morningstar says CAR Group CEO shift unlikely to affect operations

CAR

17/07/2025 19:52

** Analysts at Morningstar maintain fair value estimate for Australia's CAR Group CAR.AX at A$31

** The online vehicle marketplace operator on Thursday announced current CFO William Elliot as its new CEO

** Also forecast FY25 reported revenue to be between A$1.18 billion ($765.11 million) and A$1.19 billion ($771.60 million)

** Investment research firm says management guidance for FY25 in line with consensus and around 1% below their estimates

** Morningstar believes change in CEO to have limited impact on firm

** Nine of 14 analysts rate the stock "buy" or higher, five  "hold"; their median PT is A$40.80, as per data compiled by LSEG

** Stock has risen 0.9% this year, as of last close

($1 = 1.5423 Australian dollars)

 (Reporting by Roshan Thomas in Bengaluru)

 ((Roshan.Thomas@thomsonreuters.com))