AHG – Credit Suisse rates the stock as Neutral

FY19 results were affected by accounting changes and the reclassification of refrigerated logistics as discontinued. Credit Suisse expects this will be the last time the business is reported on as a separate entity.

Automotive operating conditions remain challenging, including credit availability. Nevertheless, Automotive Holdings appears to have found a base, in the broker’s view, and outperformed the broader market.

Neutral rating maintained. Target rises to $3.21 from $3.05.

Sector: Retailing.

Target price is $3.21.Current Price is $3.22. Difference: ($0.01) – (brackets indicate current price is over target). If AHG meets the Credit Suisse target it will return approximately 0% (excluding dividends, fees and charges – negative figures indicate an expected loss).

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