AutoNation price target raised to $154 from $126 at Wells Fargo

Wells Fargo raised the firm’s price target on AutoNation to $154 from $126 and keeps an Equal Weight rating on the shares. The firm notes shares jumped about 11% after a Q4 beat driven by buybacks. Wells remains cautious that falling prices will erode GPUs faster than expected. Also, the buyback pace as unsustainable, as it exceeds free cash flow, the firm says.