0304 GMT - CAR Group's bull at Citi sees mixed implications for the Australian classifieds group from what could be the bottom of the U.S. recreational vehicle cycle. Analyst Siraj Ahmed tells clients in a note that vehicle manufacturer Thor Industries' expectation of a mid-2025 market inflection aligns with his conclusions from discussions with CAR management. He says a recovery in volumes is positive but warns that improved current vehicle inventory could reduce the take-up of depth products commonly used to sell older vehicles. Citi has a buy rating and a target price of A$39.50 on the stock, which is down 2.9% at A$39.05. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
December 09, 2024 22:04 ET (03:04 GMT)
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