AutoNation price target raised to $144 from $135 at Wells Fargo

Wells Fargo raised the firm’s price target on AutoNation to $144 from $135 and keeps an Equal Weight rating on the shares. Shares fell about 4% despite a Q1 EPS beat, likely due to concerns around the sustainability of used GPUs, the analyst tells investors in a research note. The firm remains cautious that declining prices will erode new GPUs faster than expected.