AutoNation price target raised to $184 from $181 at Guggenheim

Guggenheim raised the firm’s price target on AutoNation (AN) to $184 from $181 and keeps a Buy rating on the shares after adjusting the firm’s estimates across the franchise dealers. Current inventory levels support the firm’s view that franchise dealer new GPU will "normalize at a gradual pace in the coming months," says Guggenheim, which notes that its AutoNation and Lithia & Driveway (LAD) EPS estimates remain above consensus for Q1 and 2023.