2336 GMT - The slightly stronger skew in Amotiv's earnings toward the vehicle-accessory supplier's fiscal 2H doesn't seem to concern its bulls at Wilsons. The Australian broker's analysts tell clients in a note that Amotiv's 1Q update was broadly in line with their expectations. The implied 2H skew is due to the timing of price rises and protracted destocking by product resellers, they add. They see earnings momentum as a key ingredient in the stock's continued rerating. Wilsons keeps an overweight recommendation on the stock and lifts its target price 0.2% to A$12.71. Shares are down 2.1% at A$10.78. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
October 21, 2024 19:36 ET (23:36 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.