0038 GMT - ARB Corp.'s bull at Citi is feeling more confident in the Australian auto-accessory retailer's U.S. strategy. Analyst Sam Teeger acknowledges gross margins are under pressure from the weaker Aussie dollar but points to the emerging profitability of ARB's part-owned 4 Wheel Parts business. Teeger, who hadn't expected breakeven until fiscal 2027, says this shows strong execution and highlights a 25% increase in ARB product sales by 4WP since its acquisition. Citi lifts its target price 4.0% to A$51.20 and keeps a buy rating on the stock, which is down 0.3% at A$39.76. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 19:38 ET (00:38 GMT)
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