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Fly News Breaks for November 16, 2015
GPI, KMX, PAG, LAD, ABG
Nov 16, 2015 | 07:25 EDT
After conducting extensive channel checks in October, KeyBanc believes that the sales outlook of the auto retailer sector remains strong. The firm is "becoming cautiously optimistic" on the outlook for the sector's new vehicle gross profit per unit. It keeps Outperform ratings on Asbury Automotive (ABG), Lithia Motors (LAD), Penske Automotive (PAG), CarMax (KMX), and Group 1 Automotive (GPI).
News For ABG;LAD;PAG;KMX;GPI From the Last 2 Days
KMX
Apr 18, 2024 | 05:48 EDT
GPI
Apr 17, 2024 | 09:43 EDT
LAD
Apr 17, 2024 | 06:44 EDT
Guggenheim analyst Ronald Jewsikow lowered the firm's price target on Lithia & Driveway to $297 from $320 and keeps a Buy rating on the shares. The firm updated estimates for its auto supplier and auto dealer coverage ahead of Q1 results from the group.
GPI
Apr 17, 2024 | 06:40 EDT
As previously reported, Guggenheim upgraded Group 1 Automotive to Buy from Neutral with a $305 price target, calling it the "best positioned dealer" to navigate the current landscape, which is "somehow trading at [the] lowest multiple." The firm believes the stock has been relatively weak year-to-date driven by a host of issues that it sees resolving in the next one to two quarters, the analyst tells investors.
GPI
Apr 17, 2024 | 06:13 EDT
GPI
Apr 17, 2024 | 05:44 EDT
JPMorgan analyst Rajat Gupta lowered the firm's price target on Group 1 Automotive to $315 from $325 and keeps an Overweight rating on the shares ahead of the Q1 report. The analyst says 2024 "continues to be a year of digestion" for the franchise auto dealerships sector.
