AMA: New acquisition improves outlook

We upgrade our recommendation on the panel beating business following its latest acquisition.

AMA Group (AMA) is one of the more intriguing stories in ASX small cap land. It is centred on chief executive and large shareholder Ray Malone, and his vision of benefiting from the consolidation in the automotive panel industry.  

With a market cap of $179 million, we think the company will continue to benefit from acquisitions and are upgrading our recommendation from “hold” to “buy”.

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