ARB's Fiscal Second Half to be Impacted by Car Sales Decline, Chinese Competition, City Says
ARB's (ASX:ARB) second-half Australian aftermarket sales are likely to be impacted by declined February car sales in Australia, according to a Thursday report by the Australian, citing investment and financial services firm Citi.
Citi analyst Sam Teeger notes that the company will face competition in the 4×4 category from Chinese automaker BYD while plug-in hybrid electric vehicles will no longer be free of fringe benefits tax from April.
The investment firm downgraded ARB's rating to neutral and cut its target price by 23% to AU$39.54.
Company shares were down 2% in recent Thursday trade.
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.
Most Discussed
No relevant data is available