Morgan Stanley upgraded AutoNation to Equal Weight from Underweight with a price target of $140, up from $117 as part of a broader research note on Autos. Q4 auto dealer results suggest that the new vehicle market continues to demonstrate resilience, with new car prices holding up higher for longer, the analyst tells investors in a research note. The firm also notes “slower EV adpotion and stronger Japanese share”.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on AN:
- AutoNation reports Q4 adjusted EPS $5.02, consensus $4.95
- AutoNation Reports Fourth Quarter and Full Year Results
- Notable companies reporting before tomorrow’s open
- AN Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- ‘Riding High’: Evercore Suggests 2 Top Franchise Auto Dealer Stocks to Buy Now