BofA raised the firm’s price target on Penske Automotive (PAG) to $205 from $195 and keeps a Buy rating on the shares. The firm lowered its North American auto production estimate to 16.1M from 16.7M to reflect plant downtime and a material increase in Chinese imports to Mexico. Commentary from dealers for 2025 was encouraging and pointed to “another year of solid growth” highlighted by growing volumes, stable pricing, and continued execution, the firm adds.
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Read More on PAG:
- Penske Automotive Group: Strong Financial Performance and Strategic Positioning Justify Buy Rating
- Penske Automotive price target raised to $165 from $160 at JPMorgan
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- Penske Automotive Reports Record Revenue and Dividend Growth
- Penske Automotive Group Reports Record Q4 2024 Results
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