AutoNation downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded AutoNation to Underweight from Neutral with a price target of $130, up from $125. The analyst believes the company’s recent capital deployment will have little accretion in the near-term. AutoNation’s investments are expected to increase, buybacks are likely to take a step back, and its move to more acquisitions and related execution credibility "will take time to establish," the analyst tells investors in a research note. As such, the firm sees a less attractive risk/reward at current share levels.