2222 GMT - CAR Group's bull at Citi reckons that a major U.S. customer is likely to return to the Australian vehicle advertiser's Trader Interactive platform. Analyst Siraj Ahmed acknowledges that Blue Compass's decision to stop using TI from January is a negative but tells clients in a note that history suggests the RV retailer's absence will be only temporary. He reaches his conclusion after talking with CAR management. Ahmed adds that TI's boat marketplace will likely get a boost from rival BoatTrader's recent material price rises. He trims his medium-term Ebitda margin forecasts to reflect sales and marketing investment. Citi cuts its target price 3.2% to A$42.00 and keeps a buy rating on the stock, which is at A$31.49 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 31, 2025 18:23 ET (22:23 GMT)
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