0200 GMT - Investors focusing on GUD's new reporting structure and proposed name change risk missing the big picture of the auto-accessory supplier's improving performance, Canaccord Genuity analyst Andrew Hodge says. He tells clients in a note that GUD is making good progress in creating, implementing and executing strategy, to the point that it is being run better than at any point in its history. GUD's recent investor day has bolstered Canaccord's conviction that the stock is too cheap at 11.2X FY 2025 earnings. Canaccord Genuity keeps a A$14.60 target price on the stock and reiterates its buy rating. Shares are up 1.0% at A$11.12. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 15, 2024 22:00 ET (02:00 GMT)
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