BUZZ-Australia's CAR Group extends losses; Macquarie hikes PT on outlook

Reuters

02-11

BUZZ-Australia's CAR Group extends losses; <a href="https://laohu8.com/S/MQG.AU">Macquarie</a> hikes PT on outlook

** Shares of CAR Group CAR.AX fall 2.3% to A$37.47, their lowest level since January 13

** Stock fell 6.5% on Monday after reporting earnings below visible alpha consensus estimates

** Macquarie raises price target by 5% for online vehicle marketplace provider to A$39.00

** Brokerage attributes hike to persistently strong vehicle market in Australia and reiterated FY25 guidance

** Eight of 14 analysts rate the stock "buy" or higher, 5 "hold" and 1 "sell"; their median PT is A$40.20 – data compiled by LSEG

** Stock rose 15.7% in 2024

(Reporting by Nichiket Sunil in Bengaluru)

((Nichiket.Sunil@thomsonreuters.com;))

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