Openlane Inc (FRA:XKR)
€ 19.4 0.3 (1.57%) Market Cap: 2.08 Bil Enterprise Value: 2.27 Bil PE Ratio: 109.30 PB Ratio: 1.64 GF Score: 75/100
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KAR Auction Services Inc at Bank of America Global Automotive Summit (Virtual) Transcript

Mar 30, 2021 / 07:00PM GMT
Release Date Price: €12.2 (-3.94%)
John Joseph Murphy
BofA Securities, Research Division - MD and Lead United States Auto Analyst

Great. (inaudible) again, for our next session, we have KAR Global, a leading wholesaler of used vehicles who is at the nexus of the digital remarketing revolution. There are a lot of questions about how the industry of KAR will transform over time, but we're very happy to have Jim Hallett, Chairman and CEO; and Eric Loughmiller, Executive VP and CFO.

The elephant in the room is all ready. We haven't underperformed on the stock. But to be fair, it's a stock rate. I have tremendous respect for both Jim and Eric, who I've known for almost 2 decades. Our rating is relative (inaudible) sell. So people should understand it's underperformed. Furthermore, there's always a question of timing in our coverage for the (inaudible) value chain. Used car wholesaling is inherently a very good business, so we look forward to the right timing on the company and the stock as the transformation of the business progresses.

As a result, obviously, with all of that, we have actually a lot of questions today, and

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