16/04/2024 09:22

CAR Group Ltd (CAR) $33.77

On-line auto-classified company CAR is a quality business that has more than doubled from its mid-2022 low. We have been following this stock over the last year, and it's encouragingly slowly retreating into our current buy zone when we have elevated cash levels—watch for alerts into further weakness.

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04/04/2024 09:07

CAR Group Ltd (CAR) $35.07

On-line auto-classified business CAR is another quality business that MM has been flagging recently. Although we have been too cautious in hindsight, the stock has advanced +12.6% so far in 2024.

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26/03/2024 09:14

CAR Group Ltd (CAR) $36.79

A new all-time high for CAR yesterday  and remain fans of the on-classified busines, a top performer this year, advancing +18.1% year-to-date, a train we wish we had jumped aboard. We continue to like CAR into pullbacks, with our ideal risk/reward entry level now under $35.

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12/03/2024 09:00

CAR Group Ltd (CAR) $35.53

CAR fell -2.1% on Monday, underperforming a comparatively resilient Tech Sector. This is another top-quality outperformer that experienced some profit-taking on Monday, but unfortunately, from our perspective, not enough to take it into our “Buy Zone.” We are fans of the on-classified business CAR, having looked at it a few times in 2024.

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07/03/2024 09:09

CAR Group (CAR) $35.47

On Wednesday, this online auto-classified business fell -1.4% in sympathy with the US Tech Sector on Tuesday night.  In February, CAR delivered solid 1H24 earnings while guiding to strong growth; as expected, the stock embraced the news. We like this business as it expands overseas while maintaining strong margins, which is not a common outcome. With its overseas earnings approaching 60%, this can be regarded as an international player.

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13/02/2024 09:23

CAR Group Ltd (CAR) $34.03

CAR closed up +1.67% on Monday after meeting 1H24 earnings expectations and guiding to strong growth – the momentum should see upgrades to FY24 earnings expectations, but we are cognisant of the stock’s +75% advance over the last 12-18 months. The risk/reward is hard to quantify from a technical perspective, but the stock has already corrected $3-4 twice since mid-2022; hence, we are in no hurry to chase this quality operator above $34.

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01/12/2023 09:20

CAR Group Ltd (CAR) $27.78

CAR closed up +0.9% on Thursday, and in a similar manner to NAB, after consolidating gains since August, it looks ready to make fresh all-time highs, i.e. in this case, an excellent read-through for the highly correlated local Tech Sector.

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12/10/2023 09:14

Carsales.com Ltd (CAR) $29.38

The online auto-classified business CAR hit a new all-time high in mid-August after delivering a strong FY23 result and solid guidance. The company has shown an impressive ability to grow internationally while maintaining margin, they’ve had success in the US and Brazil, which has improved the market's confidence in their ability to grow profitably outside Australia.

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14/08/2023 16:32

Carsales.com (CAR) $26.33

CAR +6.99%: a new record high for the online auto-classified business today on the back of a strong FY23 and reasonable guidance. Revenue of $781m and EBITDA of $425m were broadly in line, however, NPAT up 43% to $278m was a 4% beat to expectations.

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17/03/2023 09:12

Carsales.com Ltd (CAR) $21.84

The online car classified business executed a large $500m capital raise to fund a further stake in Brazil’s Webmotors. They bought an additional 40% stake, taking their total holding in the business to 70%, paying $353m, valuing the business on 21.7x CY22 EBITDA.

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