2343 GMT - Autosports Group keeps its bull at Wilsons despite its first-half profit guidance falling short of analysts' expectations. The broker's analysts are cheered that the Australian vehicle retailer appears to be past the worst regarding sacrificing margin to maintain revenue. The margin sacrifice was larger than anticipated, but they remain positive on sales momentum across used vehicles and see potential for Autosports to benefit from industry consolidation. Wilsons cuts its target price by 16% to A$2.86 but stays overweight on the stock, which is down 1.75% at A$1.965. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
November 24, 2024 18:43 ET (23:43 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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