Autosports Bull Still Thinks Valuation is Attractive

Dow Jones
07/01

0149 GMT - Autosports Group's bull at Macquarie continues to see the Australian vehicle retailer as attractively priced despite slashing its target price on temporary cost headwinds. A note from one of the investment bank's analysts tells clients that strong demand for electric vehicles has outpaced inventory, resulting in temporary delivery issues and pushing back fulfillments into the company's next fiscal year. The note says this has driven a rise in operating costs, while higher interest rates have increased inventory holding costs. Macquarie cuts its FY 2026 EPS forecast by 33% and lowers its target price 23% to 2.50 Australian dollars. It keeps an outperform rating on the stock, which is up 1.15% at A$1.76. (stuart.condie@wsj.com)

 

(END) Dow Jones Newswires

June 30, 2026 21:49 ET (01:49 GMT)

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