Guggenheim raised the firm’s price target on Lithia & Driveway to $375 from $356 and keeps a Buy rating on the shares. Franchise auto dealers reported Q1 results that generally outpaced consensus estimates, but reactions were generally negative despite strong results on a mix of heavier SG&A, positioning, or “other idiosyncratic noise,” the analyst tells investors. The firm expects better SG&A performance from the group in Q2 with market tailwinds and increased focus, the analyst added.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LAD:
- Lithia Motors: Resilient Performance and Strategic Growth Justify Buy Rating
- Lithia Motors Achieves Record First Quarter Revenue
- Lithia Motors Reports Strong Earnings Growth Amid Challenges
- Lithia & Driveway upgraded to Buy from Neutral at Citi
- Lithia & Driveway increases quarterly dividend 4% to 55c per share
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue