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Fly News Breaks for July 10, 2018
ABG
Jul 10, 2018 | 08:24 EDT
As previously reported, Morgan Stanley analyst Armintas Sinkevicius upgraded Asbury Automotive to Equal Weight from Underweight as he took over coverage of the auto dealer stocks at the firm. Asbury has superior revenue growth, ROIC, and EPS growth compared to peers, though it is going to be hard to argue for a higher multiple with the market over 9 years into the auto cycle and at a peak, he tells investors.
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