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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10/03/2023 09:16

Carsales.com Ltd (CAR) “Trading Halt”

Overnight we learnt that Goldman and UBS were seeking buyers for almost 1 million CAR shares which were left over from its entitlement issue, bids for the bookbuild shortfall were requested from the $19.95, entitlement offer – we expect the 900,000 shares will be snapped up well above $20 but fund managers current appetite will be interesting.

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08/03/2023 16:44

Carsales.com (CAR) $22.64

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24/01/2023 09:19

3 carsales.com Ltd (CAR) $22.93

MM is currently long Seek (SEK) and REA Group (REA) looking for a recovery in tech stocks, both of which are looking ok however another play on a similar theme would have been CAR which rallied +1.6% yesterday, it looks very capable of testing its 2021 all-time high.

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15/08/2022 17:27

Carsales.com (CAR) $22.90

CAR +5.77%: a strong end to the year for the auto online classifieds business, buoyed by the tailwind of a tight supply of new cars. Revenue of $509m was above guidance, slightly ahead of consensus while net profit after tax (NPAT) was at the low end of the range at $161m, though still up 23% for the year. Their buying service, Carsales Select, how shown strong...

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12/08/2022 09:23

carsales.com Ltd (CAR) $22.09

Carsales.com reports on Monday and like many Australian stocks it has a positive correlation to that Australian obsession, the housing market. CAR is currently expanding into the US after completing the buyout of Trader Interactive which could be perfect timing i.e. get set in tough times before reaping the benefits when things improve. The company already has experience on...

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29/06/2022 09:17

Carsales.com (CAR) $20.18

CAR is about to spend $1.2bn expanding into the US, a move we like strategically but only time will tell if they’ve called the economic backdrop correctly. Ironically CAR expanded into Brazil in 2013 just before the country entered a recession although it should be noted the stock was trading well under $10 at the time – they’ve already experienced a recession and it actually went pretty well for them which probably bolsters their confidence today.

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