BofA lowered the firm’s price target on Penske Automotive (PAG) to $185 from $200 and keeps a Buy rating on the shares. Ahead of Q1 earnings for the publicly traded auto dealership groups, the firm revised its EPS estimates down by 13% on average, mostly to reflect weather related disruption in late January and February that impacted both retail units sales as well as parts and service, the analyst tells investors in a preview for the group.
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