Autosports Keeps Bulls Despite Macro Headwinds

Dow Jones06-30 10:22

0222 GMT - Autosports Group retains its bullish rating at UBS despite their suspicion that some of the softness within its traditional portfolio stems from macroeconomic headwinds. Maintaining a buy rating on the stock, the investment bank's analysts tell clients in a note that consumers' shift toward electric vehicles may well have led to a supply shortfall that pushes some of the Australian vehicle retailer's revenues into its next fiscal year. However, they also think that higher interest rates and weaker consumer sentiment could be weighing. They see the June-quarter softness extending into fiscal 2027 but still see potential upside to forecasts if Autosports remains active in M&A. UBS cuts its target price by 13% to 2.90 Australian dollars. Shares are up 2.4% at A$1.71. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

June 29, 2026 22:22 ET (02:22 GMT)

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