Barclays initiated coverage of Lithia & Driveway with an Overweight rating and $410 price target The firm rolled out coverage on the auto retail sector with a neutral view. Sector fundamentals are mixed, but the dealers offer “resiliency and strong shareholder returns,” the analyst tells investors in a research note. Barclays is constructive on the growth outlook for the digital auction marketplaces as it sees the companies gaining shared from physical auctions.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LAD:
- Lithia & Driveway acquires Porsche Beverly Hills, Audi Santa Monica
- Lithia & Driveway price target raised to $399 from $385 at Citi
- Lithia & Driveway acquires three Hyundai dealerships in California
- Lithia Motors’ 2024 Annual Report Highlights Key Business Risks for Stakeholders
- Lithia Motors: Strong Q3 Performance and Strategic Growth Make It a Buy Opportunity