ASG – UBS rates the stock as Buy
UBS upgrades estimates for earnings per share and raises the target to $3.10 from $3.00. Buy retained.
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Autosports Group Limited.
Autosports Group commenced operations in 2006 with the establishment of the Audi Autosports Dealership as a greenfield site. Since then the portfolio has grown from a single dealership to over 40 retail businesses throughout Sydney, Melbourne, Brisbane and the Gold Coast. We represent automotive brands including Alpina, Aston Martin, Audi, Bentley, BMW, BMW Motorrad, Honda, Jaguar, Lamborghini, Land Rover, Maserati, Mazda, McLaren, Mercedes-Benz, MINI, Rolls-Royce, Volkswagen and Volvo.
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ASG – Macquarie rates the stock as Outperform
Macquarie has upgraded Autosports Group to Outperform from Neutral. Target is raised to $2.70 from $2.50.
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ASG – UBS rates the stock as Buy
Autosports Group provided a strong trading update at the AGM, UBS assesses. Management now expects a first half pre-tax profit of $20m.
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ASG – UBS rates the stock as Buy
FY20 adjusted pre-tax profit fell -21% amid disruptions from the pandemic compounded by weaker new vehicle demand. UBS notes new car orders are up strongly across May-July, with benefits from fiscal stimulus and substitution in consumer expenditure.
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ASG – Macquarie rates the stock as Outperform
The company has acquired Trivett Alexandria for $9m, which Macquarie suggests is capitalising on a bottom-of-the-cycle valuation.
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