ARB (ASX:ARB) is expected to increase its annual sales growth to an average of about 8% across 2026 to 2030, said Barrenjoey in a Thursday note.
The research firm believes that the US market presents a significant opportunity for the company, especially through its Toyota partnership, but growth will be slow due to lower brand awareness and product relevance.
Barrenjoey also noted that the company is currently trading below its historical valuation premiums as it believes that the company is being priced for earnings downgrades, which are unlikely to happen.
Barrenjoey starts ARB at overweight with a price target of AU$37.
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