0340 GMT - ARB Corp.'s underperformance relative to global auto-parts peers since the U.S. election is hard to explain, Jefferies analysts say. They concede that there is great uncertainty around the final form of U.S. tariffs, but can't immediately see why an Australian company with manufacturing in Malaysia and Australia has been turned on so forcefully by investors. They tell clients in a note that it's understandable that U.S. manufacturers with production in Mexico have underperformed, but less so in the case of ARB, which is only exposed to aluminum and steel tariffs. ARB still looks expensive to Jefferies' analysts, even though its U.S. distribution strategy is taking real shape. Jefferies has a hold rating and A$36.00 target price on the stock, which is up 0.1% at A$34.00. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 17, 2025 23:40 ET (03:40 GMT)
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