Fly News Breaks for March 7, 2016
SAH, GPI, PAG, AN
Mar 7, 2016 | 19:19 EDT
Goldman Sachs analyst Patrick Archambault downgraded AutoNation (AN) to Sell citing his concerns about peak seasonally adjusted annual rate vehicle sales and worsening margins for both new and used cars. The analyst has a $49 price target for the shares. The automotive retailer closed the trading day up 13c to $52.85. Archambault maintains a Cautious coverage view on the Dealer group. He keeps a Sell rating on Penske Automotive (PAG) and Neutral ratings on Group 1 Automotive (GPI) and Sonic Automotive (SAH).
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