Ann: Race In-person Investor Briefing Invitation Perth, page-35

I'm at a loss with this one too.

I understand that analysts will put out assessments that don't align with reality but I'm at a loss as to why Race would not distance themselves from it.

Now that Race have endorsed this analysis (I've received an email from Race pointing me to it) the commercial expectations have just been reset for any potential investors.

Race surely now find themselves in a difficult position of having to explain why this report is underplaying the true market opportunity..... 'just like every other stock on the ASX would say they are'