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Fly News Breaks for February 19, 2019
AN
Feb 19, 2019 | 06:32 EDT
JPMorgan analyst Rajat Gupta started AutoNation with an Underweight rating and $40 price target. The analyst initiated coverage on the U.S. Auto Dealership sector with a balanced view on the industry but a more constructive view on the stocks. However, he says AutoNation trades at a "premium" valuation despite the potential for "heavy investments" to weigh on earnings. Gupta also believes the company offers "relatively less downturn resiliency" versus peers.
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