Australian Novated-Lease Providers Keep Bull Onside -- Market Talk

Dow Jones

Jan 17, 2025

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)

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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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 16, 2025 18:45 ET (23:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australian Novated-Lease Providers Keep Bull Onside -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralian Novated-Lease Providers Keep Bull Onside -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-01-17 07:45</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     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) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  January 16, 2025 18:45 ET (23:45 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK1215","symbol_name":"特殊消费者服务","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2504922400","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2504922400","pubTimestamp":1737071100,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"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. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK1215":"特殊消费者服务","MMS.AU":"McMillan Shakespeare Ltd","03650":"KEEP","SIQ.AU":"SMARTGROUP CORP LTD","BK7057":"人力资源与就业服务"},"translate_title":"澳大利亚更新租赁提供商保持牛市——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SIQ.AU":0.9,"MMS.AU":0.9,"03650":1},"content_text":"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) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  January 16, 2025 18:45 ET (23:45 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}