AMOTIV LIMITED (AOV)
Share Price Analysis and Chart

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12/08/2026

3

Neutral

$6.70

0.90%

Post initial impressions below, Citi has come away from the management conference call with the view Amotiv remains an always "next year or two story".

The company continues to point to potential robust prospects including offshore growth and starting relationships with major Chinese OEMs, but headwinds continue to curb the short-term growth outlook. FY27 guidance remains "modest", the broker states.

Citi believes management is doing a good job with the cost base, but the industry remains challenged.

Neutral. Target $6.70.

***

At first take, Citi notes Amotiv announced underlying earnings (EBITA) for FY26 that were in line with expectations and guidance but slightly higher than consensus.

Net profit after tax came in well below consensus due to an impairment charge on intangibles in the 4WD segment, alongside restructuring and redundancy costs. The final DPS of 23c was higher than consensus.

The analyst highlights the 4WD segment was affected by weaker volumes, notably Ranger and Hilux, as well as cost inflation.

Management continues to do well on its cost-out program. FY27 guidance is for modest revenue and earnings (EBITA) growth with expectations of ongoing softness in new vehicle sales in SUV and ute segments.

The valuation remains undemanding but the analyst sees little reason for the stock to re-rate. Neutral with a $6.70 target price.

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14/08/2026

1

Buy

$10.30

55.12%

Canaccord Genuity maintains a Buy rating for Amotiv with its target price decreased to $10.30 from $12.10 following a solid FY26 financial result arriving in line with guidance.

The company reported underlying EBITA of $195.1m and underlying earnings per share of 89.4c, navigating a difficult operating environment better than closest industry peers.

The broker's estimates incorporate earnings per share downgrades of 5.4% and 6.2% for FY27 and FY28 respectively, reflecting the divestment of the ECB business alongside continued weakness in top vehicle sales volumes.

The analyst views the current trading level as fundamentally undervalued, offering a compelling 13% free cash flow yield despite market disengagement.

Management also announced a succession plan featuring the current chief executive officer stepping down to transition into a consulting role.