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Fly News Breaks for October 24, 2018
ABG
Oct 24, 2018 | 08:59 EDT
SunTrust analyst Stephanie Benjamin lowered her price target on Asbury Automotive to $70 to reflect the multiple compression across its peer group, even as the company's Q3 results "benefitted from favorable top-line comps and largely one-time SG&A benefits". The analyst also kept her Hold rating on Asbury Automotive based on its limited upside to profitability given the expectations of faster growth for its lower-margin import brands.
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