Asbury Automotive price target raised to $300 from $260 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Asbury Automotive (ABG) to $300 from $260 and keeps a Buy rating on the shares. The firm notes the company reported a solid a Q4 beat as new vehicle sales exceeded expectations, GPU were stable quarter-over-quarter, and Asbury Automotive drove operating leverage through OpEx on that upside. After three years of post-COVID normalization for the industry, Craig-Hallum thinks industry fundamentals are stabilizing/turning and investor sentiment will follow. The firm is constructive on the sector and thinks Trump will be a tailwind.