Bapcor's 1H results were in line with the pre-released result, with the Trade divisions showing resilience, according to Morgans, while Retail weighed. Short-term targets for transformation benefits were maintained.

Revenue increased by 4% in the first six weeks of the 2H compared to the previous corresponding period, though the analysts note cautious commentary by management on the near-term (primarily revenue unpredictability in Retail).

Despite the uncertainty linked to an inevitable strategy review by the incoming CEO/CFO, the analysts believe it's realistic to forecast higher earnings in FY25.

The $6.60 target and Add rating are unchanged.

Sector: Retailing.

Target price is $6.60.Current Price is $5.99. Difference: $0.61 - (brackets indicate current price is over target). If BAP meets the Morgans target it will return approximately 9% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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