Evercore ISI raised the firm’s price target on Lithia & Driveway to $500 from $440 and keeps an Outperform rating on the shares. The firm, which adjusts its auto sector targets to 2027 methodologies, contends that the sector shows promise due to the “K-economy” and replacement demand. The firm sees 20%-plus upside for the auto sector in the next year, driven by a shift from “25 Fears” to “27 Outlooks,” the analyst added.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for 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:
- ‘The Real Deal’: Barclays Says These 3 Auto Dealer Stocks Look Attractive Right Now
- Lithia & Driveway initiated with an Overweight at Barclays
- 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