BofA analyst Federico Merendi lowered the firm’s price target on AutoNation (AN) to $250 from $255 and keeps a Buy rating on the shares. The firm is revising its estimates for the auto dealers it covers as BofA now expects 2026 U.S. auto sales to be down 3.0% to 15.6M units. This volume forecast assumes a roughly 2.5% increase in new vehicle prices in 2026 due to tariffs, the analyst noted.
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