Hims & Hers Health stock rises after Canadian market entry
Investing.com - Jefferies upgraded Eagers Automotive Ltd (ASX:APE) from Underperform to Hold on Friday, significantly raising its price target to AUD29.50 from AUD18.00.
The upgrade follows Eagers Automotive’s recent expansion into the Canadian market, which Jefferies describes as an "initial global foray" with potential implications for further international growth.
Jefferies has revised its earnings per share forecasts for the automotive dealer, adjusting its FY25-27 EPS projections to -1%, +15%, and +11% respectively.
The research firm acknowledged that its previous concerns about valuation metrics for Eagers had "proven irrelevant" given the company’s unique achievements, including partnerships with Chinese automaker BYD and its easyauto123 used car business.
Jefferies noted that expansion into the United States "may not be far away" following the company’s entry into Canada, suggesting potential for further international growth beyond North America.
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