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Morningstar cuts fair-value estimate for Amotiv, says shares materially undervalued

By Reuters News

** Morningstar lowers its fair value estimate for Australia's Amotiv AOV.AX by 4% to A$11.50, adds shares are materially undervalued

** Morningstar trims its fiscal 2027 underlying EBITDA forecast by 4% to A$189 million ($132.62 million), including consolidation of Vietnam filtration

** Investment research firm says the bulk of the headwinds are in the automotive retailer's four-wheel drive (4WD) and trailering business, which is subdued by new vehicle sales, particularly key pick-up truck models

** Adds, AOV is more exposed to weakness in the 4WD market than its peer ARB ARB.AX because a higher share of AOV sales goes to manufacturers, and weaker aftermarket brands limit pricing power

** Six of 10 analysts rate the stock "buy" and four "hold"; their median PT is A$7.70, according to data compiled by LSEG

** YTD, stock down 43.7%, as of last close


($1 = 1.4251 Australian dollars)

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