Bapcor Shares Upgraded, As Price Target Slashed: Value or Trap?
Jefferies upgraded Bapcor (ASX: BAP) to Buy from Hold but cut its price target from A$1.05 to A$0.65. The stock has fallen about 75% over six months and is near A$0.38. Bapcor also secured temporary relief on its net leverage covenant, raising it to 3.5x adjusted EBITDA for test dates through 2026.