Bapcor (BAP) a buy?

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Question asked 27/11/2021

Bapcor (BAP) a buy?

Hi James , Bapcor dipped under $7 briefly and is around the $7.03 mark . You had a interest around these levels but still haven't pulled the trigger ? Do you feel it's way oversold and the CEO retiring has damaged the chances of this stock heading higher in the short term? Cheers Craig

Answer

Hi Craig,

The auto parts and servicing business announced the CEO Darryl Abotomey will retire in February next year, sending the stock plummeting. He has been a long standing driver of the business hence the markets reaction to news that was a surprise. They reiterated guidance with the announcement but that failed to allay market concerns. The stock has been stuck in a range between ~$7 and ~$8.50, and closed below that on Friday. We do like BAP as a business and it is now firmly on our radar again for our Emerging Companies Portfolio under $7.00

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Bapcor (BAP)

LAST UPDATED 27/11/2021 08:12

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