CAR Group Keeps Top-Pick Status as Brazil Sales Grow -- Market Talk

Dow Jones12-05 10:18

0218 GMT - CAR Group keeps its status as Citi's top pick of Australian internet classifieds stocks amid strong trading conditions for its Brazilian business. Analyst Siraj Ahmed tells clients in a note that while annual growth in used-car sales declined in November for a second straight month, they were still up 17% from a year earlier. December-half used-car sales in Brazil, where CAR Group operates the Webmotors business, are so far up 20% on year, he adds. Ahmed thinks that this represents upside risk to his forecast for 23% half-year constant-currency revenue growth at Webmotors. Citi has a buy rating and A$42.55 target price on the stock, which is down 0.5% at A$32.70. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

December 04, 2025 21:18 ET (02:18 GMT)

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Ahmed thinks that this represents upside risk to his forecast for 23% half-year constant-currency revenue growth at Webmotors. Citi has a buy rating and A$42.55 target price on the stock, which is down 0.5% at A$32.70. 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