BUZZ-Australia's GUD Holdings soars on improved outlook; Macquarie cuts PT on APG woes

Reuters05-14

(Updates)

** Shares of auto accessories maker GUD Holdings

rise as much as 11.7% to A$10.91, their biggest intraday jump since mid-August 2023

** GUD touches its highest level since April 12

** Co on Monday said its FY24 EBITA forecast was in line with expectations of A$193.5 mln ($127.8 mln), above A$191.1 mln reported in FY23

** Macquarie says co's forecast in line with brokerage's estimates

** Co, however, says unit AutoPacific Group $(APG)$ to deliver about A$63 mln in FY24 underlying EBITA, lower than an earlier forecast

** Macquarie cuts PT by 1.6% to A$12.65, primarily due to APG's forecast revision; cuts FY24 and FY25 EPS estimates by 1.6% and 2.3%, respectively

** GUD down 18.6% this year, as of last close

($1 = 1.5147 Australian dollars)

(Reporting by John Biju and Sameer Manekar in Bengaluru)

((Sameer.Manekar@thomsonreuters.com; Twitter: ))

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