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Fly News Breaks for December 13, 2019
ABG
Dec 13, 2019 | 09:14 EDT
SunTrust analyst Stephanie Benjamin raised her price target on Asbury Automotive to $125 after its $1B deal to acquire ParkPlace Dealerships. The analyst notes that as one of the country's largest luxury dealers, the acquisition should be margin-enhancing. Benjamin is keeping her Hold rating on the stock however, stating that the company will grow in line with the overall auto dealer industry, but raises her FY20 and FY21 EPS views to $10.83 from $9.70 and to $12.00 from $10.24 respectively.
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