Jefferies initiated coverage of Group 1 Automotive (GPI) with a Buy rating and $500 price target The analyst believes Group 1 is well positioned to gain share in “exclusive” franchise markets across new, used, and parts and service given its advantage over smaller, less capitalized, independent auto retailer and repair competitors. The firm highlights the company’s “strong” brand mix and continued geographic expansion and sees “ample” opportunities for Group 1 in under-penetrated markets.
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