AutoNation price target lowered to $165 from $175 at Argus

Argus lowered the firm’s price target on AutoNation to $165 from $175 but keeps a Buy rating on the shares. The company is well positioned for the future of car buying as its omnichannel approach, which integrates online and in-store purchasing, gives customers the ability to buy a car on their own terms, the analyst tells investors in a research note. The stock also merits a higher valuation based on AutoNation’s strong balance sheet, emphasis on omnichannel sales and customer self-service, and focus on customer retention through its after-sales business, Argus added.