Morgan Stanley determines from yesterday's Q3 update by ARB Corp Q2 momentum has carried through to the Q3 and the overall trajectory is in line with consenus expectations. Key segment performances remain solid/improving, notes the broker.

The outlook is supported by improving new vehicle suipply and order books in Australia, suggest the analysts, and Export is starting to trend positively.

Equal-weight. Target is $35.50. Industry view: In-Line. 

Sector: Automobiles & Components.

Target price is $35.50.Current Price is $38.90. Difference: ($3.40) - (brackets indicate current price is over target). If ARB meets the Morgan Stanley target it will return approximately -10% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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