Jefferies lifts Peter Warren's PT on upbeat profit guidance

Peter Warren Automotive Holdings

27/10/2021 24:48

** Jefferies raises PT for Peter Warren Automotive Holdings
Ltd  PWR.AX  to A$4.40 from A$4.20, retains "buy" rating
    ** Auto dealer upgraded guidance https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02441308-2A1333570?access_token=83ff96335c2d45a094df02a206a39ff4
 for 1H22 net profit before tax to be in the range of A$32 mln
($23.88 mln) and A$34 mln from A$28 mln previously, on Tuesday
    ** Brokerage lifts FY22 EPS estimate by 23% to A$0.28 per
share
    ** Jefferies sees auto dealership gross margins starting to
fall back in CY2022 but may take several years to reach
pre-COVID levels
    ** It also sees upside for new vehicle market in 2022 but
risks due to ride-sharing behaviour and complications around EVs
remain
    

    



($1 = 1.3398 Australian dollars)

 (Reporting by Dhriti Garg in Bengaluru)
 ((Dhriti.Garg@thomsonreuters.com))