FleetPartners' Bull Sees Significance in Buyback -- Market Talk
Dow Jones
Mar 12
FleetPartners' bull at Canaccord Genuity sees its A$20 million buyback as significant for a couple of reasons. Analyst Andrew Hodge tells clients in a note that it signifies management's conviction in the Australian fleet manager's current performance and the trading multiple of its stock. He says it also provides a smoother transition following its previously announced change in capital-management strategy, from primarily buybacks to primarily dividends. Those dividends are likely to drive a stock re-rate over the next 12 months, Hodge adds. Canaccord Genuity keeps a buy rating and A$3.60 target price on the stock, which is up 0.4% at A$2.68. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
March 11, 2026 19:24 ET (23:24 GMT)
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