2234 GMT - CAR Group shares will likely underperform despite the Australian vehicle advertiser's reasonable 1H result, E&P analyst Entcho Raykovski reckons. He points out that December-half proforma revenue, proforma Ebitda and adjusted net profit fell short of analyst expectations by 2.5%, 1.8% and 2.7%, respectively. CAR also downgraded its annual revenue guidance for its North American Trader Interactive business to good from solid, he adds. Combined with the stock's strong run ahead of the result, this is likely to lead to a negative market reaction, Raykovski writes in a note. E&P has a neutral rating and A$34.80 target price on the stock, which is at A$41.03 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 09, 2025 17:34 ET (22:34 GMT)
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