Group 1 Automotive price target raised to $400 from $350 at Seaport Research

Seaport Research raised the firm’s price target on Group 1 Automotive to $400 from $350 and keeps a Buy rating on the shares. The firm raised its price target on the stock after being “extremely encouraged” by the automotive group’s Q2 earnings results, the analyst tells investors. GPI‘s sustained earnings strength reinforced the firm’s view that normalized earnings are higher than investors perceive and believes recent marketing & acquisition activity will be significantly earnings accretive, the firm adds.