2345 GMT - Citi analyst Jack Dunn stays bullish on novated-lease providers Smartgroup and McMillian Shakespeare despite softer December-half vehicle sales in Australia. Pointing to a 5% fall in passenger vehicle and SUV sales, Dunn cuts his forecasts for both providers. He tells clients in a note that falling car prices due to dealer discounts and price competition between EV makers will weigh on company yields. Nonetheless, he still thinks that Smartgroup and McMillan Shakespeare will both report volume growth and keeps a buy rating on both stocks. Citi cuts its target price on Smartgroup 8.1% to A$9.60. Shares are down 0.3% at A$7.745. Citi cuts its target price on McMillan Shakespeare 8.2% to A$18.40. Shares are down 1.4% at A$15.20. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 18:45 ET (23:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。