In a report released yesterday, Siraj Ahmed from Citi maintained a Buy rating on CAR Group, with a price target of A$42.55.
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Siraj Ahmed has given his Buy rating due to a combination of factors influencing the CAR Group’s market position and potential growth. One key consideration is the company’s robust marketplace that integrates both private and dealer listings, which presents a unique competitive advantage that is challenging for new entrants like Amazon to replicate. This differentiation is further enhanced by CAR’s advanced data capabilities and pricing strategies, which solidify its position in the market.
Moreover, while Amazon’s expansion into the used car market could introduce new competition, CAR Group’s established infrastructure and comprehensive offerings are expected to mitigate potential threats. The anticipated expansion of Amazon’s used car sales does not directly threaten CAR, as the latter’s focus and strengths lie in areas that Amazon has yet to fully develop. These factors collectively contribute to the positive outlook and justify the Buy rating for CAR Group’s stock.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Buy rating on the stock with a A$46.00 price target.