CAR Group Ltd
CAR: XASX (AUS)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$32.00 | Gtnkl | Bksdbkvnz |
Carsales.com’s Fair Value Estimate Increased to AUD 18 Following Strong First-Half Result
Narrow-moat-rated Carsales.com’s first-half result broadly aligned with our expectations for a resilient fiscal 2021 and we largely maintain our earnings forecasts. Nonetheless, we increase our fair value estimate by 3% to AUD 18.00 per share reflecting the time value of money effect on our financial model. However, the Carsales.com share price has performed well in recent months and, at the current price of AUD 21.75, is overvalued.