CAR Group's Leadership Switch Demonstrates Deep Bench -- Market Talk

Dow Jones

2025/07/18

0102 GMT - CAR Group's leadership change is seen by Morgans analyst Steven Sassine as a demonstration of the bench strength and quality of management developed under its departing chief executive. Sassine concedes that CEO Cameron McIntyre's decision to step down is a loss to the Australia-listed vehicle advertiser, but is nonetheless positive on the elevation of CFO William Elliott as his successor. He marginally lowers his revenue and earnings forecasts for the next three years, but the changes are linked to CAR's unaudited fiscal 2025 results rather than the management changes. Morgans keeps an accumulate rating and A$40.80 target price on the stock, which is up 1.9% at A$37.025. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 17, 2025 21:02 ET (01:02 GMT)

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Sassine concedes that CEO Cameron McIntyre's decision to step down is a loss to the Australia-listed vehicle advertiser, but is nonetheless positive on the elevation of CFO William Elliott as his successor. He marginally lowers his revenue and earnings forecasts for the next three years, but the changes are linked to CAR's unaudited fiscal 2025 results rather than the management changes. Morgans keeps an accumulate rating and A$40.80 target price on the stock, which is up 1.9% at A$37.025. 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Sassine concedes that CEO Cameron McIntyre's decision to step down is a loss to the Australia-listed vehicle advertiser, but is nonetheless positive on the elevation of CFO William Elliott as his successor. He marginally lowers his revenue and earnings forecasts for the next three years, but the changes are linked to CAR's unaudited fiscal 2025 results rather than the management changes. Morgans keeps an accumulate rating and A$40.80 target price on the stock, which is up 1.9% at A$37.025. 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