Eagers Pleases With Deal for Gold Coast, Sydney Dealerships -- Market Talk

Dow Jones
04/02

2128 GMT - Eagers Automotive's latest deal pleases its bull at Jefferies. Eagers is acquiring 49% of Grand Motors Group, which owns dealerships on Australia's Gold Coast and in Sydney. Analyst John Campbell says the deal should increase Eagers's share of the country's car market to 15%, from 14% in FY 2025. There's no risk that Australia's competition regulator will object to the deals, he says. Eagers has very little presence on the Gold Coast and has limited Sydney exposure, reducing competition concerns. "The deal also increases easyauto123 opportunities, improves back-office efficiencies and allows for tech sharing savings," Jefferies says. It retains a buy call and A$29.50/share price target on Eagers, which ended Wednesday at A$24.63. (david.winning@wsj.com; @dwinningWSJ)

 

(END) Dow Jones Newswires

April 01, 2026 17:28 ET (21:28 GMT)

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