Fly News Breaks for February 13, 2020
Feb 13, 2020 | 09:10 EDT
Craig-Hallum analyst Ryan Sigdahl lowered his price target for Lithia Motors to $170 from $200 on a lower assumed premium to comps given its temporary margin pressures. The analyst notes that the company delivered "strong" 7% year over year same-store sales growth in a declining SAAR environment driven by strength in its used vehicle business. However, profitability was capped by elevated OpEx as the company integrates recent acquisitions and positions for a "banner year of growth" in 2020, he adds. Sigdahl maintains a Buy rating on the shares and recommends buying the pullback.
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