JPMorgan analyst Rajat Gupta lowered the firm’s price target on Asbury Automotive (ABG) to $235 from $240 and keeps an Underweight rating on the shares. The firm adjusted targets in the franchise auto dealers group as part of a Q1 preview. JPMorgan continues to see an attractive risk/reward for the sector, but says stock re-ratings will be pushed into late Q2 as underlying EBITDA growth becomes visible.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ABG:
- Asbury Automotive price target lowered to $238 from $255 at BofA
- Asbury Automotive price target lowered to $254 from $277 at Stephens
- Asbury Automotive price target lowered to $212 from $260 at Citi
- Asbury Automotive price target raised to $235 from $230 at Barclays
- Asbury Automotive price target raised to $240 from $235 at JPMorgan