2253 GMT - ARB Corp's slightly soft 1Q update doesn't shift Wilsons analysts' bullish view of the auto-accessory manufacturer and retailer. The analysts tell clients in a note that various growth drivers across both product and distribution give them confidence that sales growth will accelerate through the rest of ARB's 2025 fiscal year, while Oct. 1 price increases will benefit margins. In short, ARB continues to look well placed to take advantage of the market's structural shift toward 4WD vehicles. Wilsons rolls forward its valuation and lifts target price 5.1% to A$50.27. It keeps an overweight recommendation on the stock, which is at A$43.15 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 17, 2024 18:53 ET (22:53 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.