Wells Fargo raised the firm’s price target on Lithia & Driveway to $364 from $305 and keeps an Equal Weight rating on the shares. The firm is updating its EPS estimates for the updated industry data and its revised U.S. sales outlook. Q2 metrics look strong with new and used volumes up and dealer GPUs up quarter-over-quarter, Wells adds, noting that Q2 year-over-year comparable sales benefit from the 2024 CDK disruption.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LAD:
- Lithia & Driveway price target raised to $500 from $430 at BofA
- Lithia & Driveway acquires two Mercedes-Benz stores in the Southeast region
- Pinewood to acquire Lithia’s majority stake in North American joint venture
- Lithia & Driveway management to meet virtually with Benchmark
- Strategic Positioning and Growth Potential Drive Buy Rating for Lithia Motors