BofA lowered the firm’s price target on Group 1 Automotive (GPI) to $545 from $560 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.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GPI:
- Group 1 Automotive management to meet virtually with Seaport Research
- Group 1 Automotive price target raised to $485 from $470 at Morgan Stanley
- Group 1 Automotive Appoints New HR Chief
- Group 1 Automotive names Melkeya McDuffie as Chief Human Resources Officer
- Group 1 Automotive Acquires Mercedes-Benz Dealership in Atlanta