Guggenheim analyst Jonathan Elias lowered the firm’s price target on AutoNation to $179 from $184 and keeps a Buy rating on the shares. Given AutoNation’s year-to-date stock performance, the firm believes buybacks will likely lessen in coming quarters as free cash flow normalizes and as a result its 2023 EPS estimates are higher, but it is lowering its 2024 estimate and now expects AutoNation’s earnings to trough in 2025 versus 2024.
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