CAR Group Bull Wonders if Revenue Guidance is Optimistic
Dow Jones
Aug 10
0338 GMT - CAR Group's bull at Citi wonders whether the vehicle advertiser's guidance for 11%-14% fiscal 2027 revenue growth is optimistic. Analyst Siraj Ahmed points out that the Australia-listed group's fiscal 2026 revenue came in at the bottom end of its guidance range despite being buoyed by acquisitions. Ahmed suggests that a weak macroeconomic backdrop might be a reason for pessimism. He is surprised at the strength in the company's shares following the result. Nonetheless, he tells clients in a note that CAR Group's ongoing product development should still underpin medium-term revenue growth in the double digits. Citi has a last-published buy rating on the stock and a target price of 30.60 Australian dollars. Shares are up 8.5% at A$29.31.
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