We have liked the CAR business for a long time but felt compelled to take profit back in March on valuation grounds, unfortunately things don’t always work out this well! Their result back in August was very strong and we believe this sector re-rating is an excellent opportunity to buy CAR. The $12.5bn vehicle classified company is only trading on 18x (EV/EBITDA),and is estimated to grow earnings at ~11% over the next few years. We see this as a solid stock that’s offering both value and growth as it expands globally.
- We recently bought back into CAR for our Active Growth Portfolio – Alert.
MM is long and bullish towards CAR
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