2136 GMT - ARB Corp's bull at Citi expects the 4WP chain acquired by its U.S. associate to turn profitable in fiscal 2027. Analyst Sam Teeger incorporates ARB's 50% stake in 53 mostly 4WP-branded stores into his forecasts, driving cuts to his net profit forecasts for fiscal 2025 and fiscal 2026, but upgrades over the longer term. Teeger tells clients that the 4% increase to his fiscal 2034 net profit forecast is based on an expectation of 4WP turning profitable and a resumption of new store openings. Citi trims its target price 1.6% to A$49.22 and keeps a buy rating on the stock, which is atA$40.08 ahead of the open.(stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 16:36 ET (21:36 GMT)
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