2201 GMT - A recent visit to Wesfarmers-owned Bunnings left Citi analyst Sam Teeger feeling a little more concerned about the competition facing auto-accessory retailer Bapcor. Teeger tells clients in a note that a new auto range flagged by Australia's largest chain of hardware stores raises the risk of competition for Bapcor's specialist Autobarn outlets. Teeger places a 30-day downside catalyst watch on Bapcor shares ahead of this week's investor day at Bunnings. He cuts his target price on the stock by 3.7% to A$5.43, also pointing to peer and market valuation multiples. Citi stays neutral on the stock, which is at A$4.96 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 25, 2025 18:01 ET (22:01 GMT)
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