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Fly News Breaks for June 30, 2016
AN
Jun 30, 2016 | 07:26 EDT
Gabelli analyst Brian Sponheimer reiterates his Buy rating on AutonNation and named it a Top Pick for 2H 2016 saying the company can prosper in a flat to down SAAR environment. The analyst sid the dealer model offers recession resistant profits and should benefit from an increasing population of older cars, warranty work on recall related repairs, and continued non-warranty share gains. Further, AutoNation's strong cash flow should allow it to utilize excess cash to either grow through M&A or buy backs.
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