Impairment Suggests Amotiv Overpaid for APG -- Market Talk

Dow Jones07-23

0311 GMT - Amotiv's impairment of its APG business suggests to Citi analyst Sam Teeger that the vehicle accessory supplier overpaid for it. The A$180 million-A$190 million impairment doesn't surprise Teeger given Amotiv's track record of missing expectations. He tells clients in a note that APG, which Amotiv acquired in 2021, is a good business but that the deal was done at the wrong time in the cycle. Teeger thinks that the size of the impairment may make investors more nervous about future acquisitions by the company. Citi has a buy rating and A$12.35 target price on the stock, which is up 1.6% at A$8.83. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

July 22, 2025 23:11 ET (03:11 GMT)

At the request of the copyright holder, you need to log in to view this content

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.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2553936992?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2025-07-23 11:11","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2553936992","market":"hk","top_or_hot":-1,"title":"Impairment Suggests Amotiv Overpaid for APG -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0311 GMT - <a href=\"https://laohu8.com/S/AOV.AU\">Amotiv</a>'s impairment of its APG business suggests to Citi analyst Sam Teeger that the vehicle accessory supplier overpaid for it. The A$180 million-A$190 million impairment doesn't surprise Teeger given Amotiv's track record of missing expectations. He tells clients in a note that APG, which Amotiv acquired in 2021, is a good business but that the deal was done at the wrong time in the cycle. Teeger thinks that the size of the impairment may make investors more nervous about future acquisitions by the company. Citi has a buy rating and A$12.35 target price on the stock, which is up 1.6% at A$8.83. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 22, 2025 23:11 ET (03:11 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Impairment Suggests Amotiv Overpaid for APG -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nImpairment Suggests Amotiv Overpaid for APG -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2025-07-23 11:11</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     0311 GMT - <a href=\"https://laohu8.com/S/AOV.AU\">Amotiv</a>'s impairment of its APG business suggests to Citi analyst Sam Teeger that the vehicle accessory supplier overpaid for it. The A$180 million-A$190 million impairment doesn't surprise Teeger given Amotiv's track record of missing expectations. He tells clients in a note that APG, which Amotiv acquired in 2021, is a good business but that the deal was done at the wrong time in the cycle. Teeger thinks that the size of the impairment may make investors more nervous about future acquisitions by the company. Citi has a buy rating and A$12.35 target price on the stock, which is up 1.6% at A$8.83. (stuart.condie@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 22, 2025 23:11 ET (03:11 GMT)\n</p>\n<p>\n  Copyright (c) 2025 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1923622291.USD","symbol_name":"Natixis Thematics Safety R/A USD","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2553936992","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2553936992","pubTimestamp":1753240260,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0311 GMT - Amotiv's impairment of its APG business suggests to Citi analyst Sam Teeger that the vehicle accessory supplier overpaid for it. The A$180 million-A$190 million impairment doesn't surprise Teeger given Amotiv's track record of missing expectations. He tells clients in a note that APG, which Amotiv acquired in 2021, is a good business but that the deal was done at the wrong time in the cycle. Teeger thinks that the size of the impairment may make investors more nervous about future acquisitions by the company. Citi has a buy rating and A$12.35 target price on the stock, which is up 1.6% at A$8.83. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1923622291.USD":"Natixis Thematics Safety R/A USD","AOV.AU":"Amotiv","LU2125909759.SGD":"Natixis Thematics Safety H-R/A SGD","BK4129":"建筑与工程","LU2125909916.SGD":"Natixis Thematics Safety R/A SGD","APG":"APi Group Corp","BK7051":"机动车零配件与设备"},"translate_title":"减值表明Amotiv为APG支付了过高的价格——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AOV.AU":0.9,"APG":1},"content_text":"0311 GMT - Amotiv's impairment of its APG business suggests to Citi analyst Sam Teeger that the vehicle accessory supplier overpaid for it. The A$180 million-A$190 million impairment doesn't surprise Teeger given Amotiv's track record of missing expectations. He tells clients in a note that APG, which Amotiv acquired in 2021, is a good business but that the deal was done at the wrong time in the cycle. Teeger thinks that the size of the impairment may make investors more nervous about future acquisitions by the company. Citi has a buy rating and A$12.35 target price on the stock, which is up 1.6% at A$8.83. (stuart.condie@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  July 22, 2025 23:11 ET (03:11 GMT)\n\n\n  Copyright (c) 2025 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2553936992","isCrawlerRequest":true}