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Fly News Breaks for February 8, 2017
ABG
Feb 8, 2017 | 09:23 EDT
Craig-Hallum analyst Steven Dyer raised his price target for Asbury Automotive to $65 from $55 after the company reported "strong Q4 results." However, with a more challenging industry environment, low single digit revenue growth expectations going forward and a greater focus on stock repurchases versus M&A, the analyst believes Asbury Automotive's valuation multiple will have a tough time expanding much from current levels. He reiterates a Hold rating on the shares.
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