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.
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