0244 GMT - CAR Group's share-price decline over the past month lures a bear back to the Australian vehicle advertiser after a month away. Pointing to a 15% drop in the stock, Barrenjoey analyst Eric Choi raises his recommendation to overweight from neutral, reversing his February call. He also tells clients in a note that Barrenjoey's conversations with U.S. recreational vehicle dealers suggest that volumes are improving after bottoming recently, which should be supportive for CAR's Trader Interactive business. The dealers are seeing some signs of improved consumer sentiment as interest rates start to come down, Choi adds. Barrenjoey has a A$39.00 target price on the stock, which is down 1.5% at A$34.51. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 10, 2025 22:44 ET (02:44 GMT)
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