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Fly News Breaks for January 7, 2020
Jan 7, 2020 | 08:34 EDT
The recent de-rating in the Auto Dealerships sector is unwarranted and has created attractive entry point levels, JPMorgan analyst Rajat Gupta tells investors in a research note. The analyst views 2020 as another year of solid earnings growth with an estimated ~7% core operating earnings growth and ~13% overall earnings growth. Gupta expects the sector to re-rate higher from the standing ~45% discount versus the S&P. On stocks, the analyst would be favorably positioned on Lithia Motors (LAD) into the Q4 print. Gupta would avoid Asbury Automotive (ABG) into the Q4 results.
News For LAD;ABG;AN;GPI;PAG;SAH From the Last 2 Days
Feb 24, 2021 | 06:27 EST
Citi analyst Nicholas Jones raised the firm's price target on Lithia Motors to $385 from $320 and keeps a Neutral rating on the shares post the company's Q4 results. The analyst's estimates move higher to reflect ongoing execution of the company's five-year plan, but he continues to see limited room for multiple expansion from here.