Asbury Automotive price target raised to $230 from $220 at JPMorgan

JPMorgan raised the firm’s price target on Asbury Automotive (ABG) to $230 from $220 and keeps an Underweight rating on the shares. The firm reduced franchise dealer estimates into the Q3 reports to reflect electrical vehicle mix and headwinds in the UK. The sector has “little room” for share re-ratings in the near-term and the risk/rewards are balanced in the medium-term, the analyst tells investors in a research note. JPMorgan established December 2026 prices target December 2025 previously.