0315 GMT - Morgan Stanley analysts see signs that margins are stabilizing at Peter Warren Automotive, but it's not enough to make them buyers of the stock. They maintain an equal-weight rating, noting their low conviction in earnings forecasts and the lack of visibility, which keeps them on the sidelines for now. Large swings in recent performance suggest the market is uncertain about the Australian vehicle dealer's underlying earnings power. The analysts have trimmed earnings forecasts due to weaker-than-expected guidance, reducing the target price by 17% to A$1.50. Shares are up 1.3% at A$1.55. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 16, 2024 22:15 ET (03:15 GMT)
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