ARB Corp. initiated with a Hold at Jefferies

Jefferies analyst John Campbell initiated coverage of ARB Corp. with a Hold rating and A$26.50 price target. ARB’s key revenue driver is 4×4 car parc growth in Australia, New Zealand, the U.S. and 100 export markets, says the firm, which sees “subdued” revenue growth in the near-term due to a “Covid hangover” and macro impacts.