Citi trims PT, earnings view on Australian auto accessories firm ARB

** Citi cuts price target on auto accessories firm ARB Corp ARB to A$44.20 from A$44.90, retains "buy" rating

** ARB said on Wednesday outlook was trending positively with trading conditions expected to continue into 1H25

** Posted sales growth of 2.1% in 3Q24 and said export order book trending positively

** Citi says slower-than-expected 3Q24 sales drives minor downgrade to its FY24-26 EPS ests by up to 3%

** Brokerage expects conditions to be stronger for longer in Australia driven by strong order book, supply normalisation, among others

** Cuts FY24 core net profit view by 2.7% to A$104.5 mln ($68.74 mln), and for FY25 by 2.3% to A$116.3 mln

** Three of 11 analysts rate the stock "buy" or higher, five "hold" and three "sell" or lower; their median PT is A$35.50 – LSEG data

** ARB has risen 8.2% YTD, as of last close

($1 = 1.5202 Australian dollars)