Bapcor's 1H results were in-line with the consensus estimate though Morgans expects market concerns will continue to weigh around the unexpected management change. The board confirmed no takeover offer has been received.

Guidance was maintained guidance for profit  'at least' in-line with FY21, while the distribution centre targets were reaffirmed.

The broker makes minor forecast earnings changes and retains its Add rating, while lowering the target to $7.55 from $8.45.

Sector: Retailing.

Target price is $7.55.Current Price is $6.50. Difference: $1.05 - (brackets indicate current price is over target). If BAP meets the Morgans target it will return approximately 14% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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