0350 GMT - Jarden analysts remain bearish on CAR Group, despite becoming more optimistic about the vehicle classifieds provider's Australian dealer business. They raise their annual revenue growth forecasts for CAR's Australian dealer business through fiscal 2029, noting that the group aims to increase its dealer margin take rate to over 10% through price hikes and new products. Jarden raises its target price for the stock by 8.4% to A$35.50, while maintaining an underweight rating on valuation. The analysts add that there are more favorable risk-reward opportunities elsewhere. Shares are up 2.2% at A$38.63. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 15, 2025 22:50 ET (03:50 GMT)
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