Jefferies expects Peter Warren Automotive to meet profit view in maiden results

Peter Warren Automotive Holdings

10/08/2021 04:40

** Jefferies sees cars retailer Peter Warren Automotive
Holdings  PWR.AX  report an upbeat FY21 earnings on the back of
favourable conditions in the auto dealership sector, despite
recent lockdowns
    ** PWR is set to release its FY21 results on Aug. 27, its
first since listing on the ASX in April
    ** PWR in May said https://www.pwah.com.au/site/PDF/1c77802d-8bbc-404a-bc2e-f4ea5d69f92a/Tradingupdateyearended30June2021
 it expects pre-tax profit of between A$54 mln ($39.55 mln) and
A$57 mln for the year
    ** Jefferies expects FY21 underlying pre-tax profit of A$58
mln on revenue of A$1.53 bln
    ** An average analyst estimate by Refinitiv shows pre-tax
profit at A$56.1 mln on revenue of A$1.53 bln
    ** Jefferies likes "PWR's long-term opportunity to continue
the industry consolidation started" by peer Eagers Automotive
 APE.AX   urn:newsml:reuters.com:*:nL4N2PC4OI
    ** Brokerage rates PWR 'buy' with a price target of A$4.20

($1 = 1.3654 Australian dollars)

 (Reporting by Sameer Manekar in Bengaluru)
 ((Sameer.Manekar@thomsonreuters.com;))