BAP - Morgan Stanley rates the stock as Equal-weight




In a flash update, Morgan Stanley called Bapcor's result mostly in line on a mix of higher revenues but lower earnings to forecasts -- considered relatively robust given lockdowns in the period and other covid disruptions.

Guidance is for an FY22 profit "at least in line with" FY21, however guidance appears to include contributions from recent acquisitions, suggesting a lack of organic growth.

Equal-weight and $7.80 target retained. Industry view: In-Line.

Sector: Retailing.


Target price is $7.80.Current Price is $6.50. Difference: $1.30 - (brackets indicate current price is over target). If BAP meets the Morgan Stanley target it will return approximately 17% (excluding dividends, fees and charges - negative figures indicate an expected loss).