BAP 0.93% $5.33 bapcor limited

Ann: Retirement of Chief Executive Officer & Managing Director, page-19

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    0 Ord Minnett
    24/11/2021
    3
    Downgrade to Hold from Buy
    $7.20
    -3.49%
    1
    • COMMENTARY Bapcor CEO Darryl Abotomey has announced his intention to retire in February 2022, at what Ord Minnett describes as a challenging time for the company. Despite being well-placed for profit growth the news does spark concern of near-term risk, particularly as the company is part way through a supply chain overhaul that includes the consolidation of 13 distribution centres, a project already carrying execution risk. The rating is downgraded to Hold from Buy and the target price decreases to $7.20 from $9.00. FORECASTOrd Minnett forecasts a full year FY22 dividend of 22.00 cents and EPS of 38.70 cents.Ord Minnett forecasts a full year FY23 dividend of 23.00 cents and EPS of 41.50 cents.

    JPM is AKA OM - from fnarena
 
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