Lithia & Driveway price target raised to $378 from $375 at Citi

Citi raised the firm’s price target on Lithia & Driveway to $378 from $375 and keeps a Buy rating on the shares. The analyst updated the company’s model post the Q1 report. Auto dealers are less vulnerable to higher tariffs relative to the rest of the auto sector or other retailers, the analyst tells investors in a research note. The firm says gross profit from selling new vehicles accounted for 22% of Lithia’s gross in 2024, and 25% of annual revenue is from operations in the UK and unaffected by the U.S. tariffs. Citi cites the company’s higher than expected share repurchase for upped estimates and the price target