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Fly News Breaks for February 4, 2020
ABG
Feb 4, 2020 | 07:22 EDT
SunTrust analyst Stephanie Benjamin lowered her price target on Asbury Automotive to $107 and kept her Hold rating after its Q4 results to match its implied valuation of 9-times forward earnings with that of its peer auto dealer average. The analyst also cites the 5% reported annualized decline in new vehicle unites amid import brand weakness, but raises her view for FY20 and FY21 EPS by 20c and 7c to $11.03 and $12.07 to reflect the company's new acquisitions and divestments.
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