Wells Fargo raised the firm’s price target on AutoNation (AN) to $222 from $220 and keeps an Equal Weight rating on the shares. Discussing the dealer outlook, the firm says that into 2026, it sees a 3% U.S. sale decline and about $200/car in new GPU normalization. Wells also sees flat year-over-year 2026 net income, but EPS up on buybacks. Q4 results are impacted by weak mix given weaker luxury, the firm adds.
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