2225 GMT - Ord Minnett isn't ready to turn bullish on car parts retailer Bapcor despite sales appearing to stablilize. "A recovery to historical profitability levels would represent material earnings upside," says analyst James Casey. "However, it's early days in terms of a potential turnaround." Bapcor's sales in the first six weeks of FY27 are slightly above a year ago. That suggests initiatives introduced to help the business to turn a corner are working. Ord Minnett highlights that Bapcor's Trade and Networks segments are continuing to deliver sales growth, but the Retail and New Zealand businesses remain challenging. It retains a hold call on Bapcor, while raising its price target by 45% to A$0.80/share. Bapcor ended last week at A$0.705.
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