Barclays lowered the firm’s price target on AutoNation (AN) to $245 from $250 and keeps an Overweight rating on the shares. The firm adjusted targets in the auto retail group as part of its Q4 outlook. It broadly lowered estimates across the sector on “soft” auto sales unit pressures. However, trade checks suggest the used vehicle market has good momentum, the analyst tells investors in a research note.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AN:
- Seagate upgraded, Tractor Supply downgraded: Wall Street’s top analyst calls
- AutoNation upgraded to Overweight from Neutral at JPMorgan
- AutoNation price target raised to $222 from $220 at Wells Fargo
- AutoNation acquires Jerry’s Toyota, terms not disclosed
- AutoNation assumed with an Overweight at Morgan Stanley