0316 GMT - An improvement in sales of the top 11 models fitted with ARB Corp. equipment is linked almost entirely to a single vehicle, Canaccord Genuity analysts point out. They tell clients in a note that while the 6.3% on-year rise is positive for the Australian accessory manufacturer, it mostly relates to an unusual jump in sales of the Toyota Prado. This stems from strong current sales of a new model comparing with low year-earlier sales as buyers waited on its release, they observe. However, they add that the Prado is a high-fitment rate vehicle, so the surge will be helpful to ARB. Canaccord Genuity has a hold rating and A$34.70 target price on the stock, which is down 0.3% at A$31.77. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
June 05, 2025 23:16 ET (03:16 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.