0038 GMT - ARB Corp.'s bull at Citi is feeling more confident in the Australian auto-accessory retailer's U.S. strategy. Analyst Sam Teeger acknowledges gross margins are under pressure from the weaker Aussie dollar but points to the emerging profitability of ARB's part-owned 4 Wheel Parts business. Teeger, who hadn't expected breakeven until fiscal 2027, says this shows strong execution and highlights a 25% increase in ARB product sales by 4WP since its acquisition. Citi lifts its target price 4.0% to A$51.20 and keeps a buy rating on the stock, which is down 0.3% at A$39.76. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
February 18, 2025 19:38 ET (00:38 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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.