2333 GMT [Dow Jones]--The impact of weakening vehicle demand on Peter Warren Automotive shocks Jefferies analysts, who cut their recommendation on the stock to hold from buy. They had expected the vehicle dealer's first-half earnings to suffer from softer Australian consumer demand but the size of the impact is a surprise. They write in a note that they are cutting their EPS forecasts for the next three fiscal years by 31%, 36% and 20%, respectively. There is little clarity on when any turnaround might eventuate, they warn. Jefferies cuts its target price 26% to A$1.45. Shares are flat at A$1.55. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 17, 2024 18:37 ET (23:37 GMT)
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