Motorcycle Holdings' numbers were pre-released. It was a strong result, Morgans suggests, cycling an elevated base from a year ago, and in the face of locked-down dealerships and supply chain disruptions.

Management has pointed to a normalising of trade through February after significant January disruption, on increasing demand momentum, tempered by ongoing supply constraints.

The broker expects an abating of lockdown impacts and incremental acquisition contributions will improve the seasonally lower second half skew. Target rises to $4.21 from $4.18, Add retained.

Sector: Retailing.

Target price is $4.21.Current Price is $2.93. Difference: $1.28 - (brackets indicate current price is over target). If MTO meets the Morgans target it will return approximately 30% (excluding dividends, fees and charges - negative figures indicate an expected loss).

© 2022 Acquisdata Pty Ltd., source FN Arena