ARB Could Get Boost From New Toyota Variant -- Market Talk

Dow Jones04-10

0341 GMT - Australia's ARB Corp. could get a boost from Toyota's U.S. launch of a new variant of its 4Runner vehicle, Citi analysts speculate. They acknowledge that they don't yet know what accessories the variant will come with, but say it's possible that ARB will have several of its branded accessories factory fitted. A similar variant of the Tacoma vehicle has five ARB products fitted as standard, they observe. The Citi analysts tell clients in a note that such a scenario could add 7% to their FY 2025 gross profit forecast. Citi has a buy rating and A$44.90 target price on the stock, which is down 0.7% at A$39.72. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 09, 2024 23:41 ET (03:41 GMT)

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The Citi analysts tell clients in a note that such a scenario could add 7% to their FY 2025 gross profit forecast. Citi has a buy rating and A$44.90 target price on the stock, which is down 0.7% at A$39.72. 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