JPMorgan analyst Rajat Gupta raised the firm’s price target on Group 1 Automotive (GPI) to $425 from $415 and keeps a Neutral rating on the shares. The firm adjusted targets in the auto dealership group following the Q2 report. The risk/reward profiles in the group are more balanced following the recent selloffs, but re-rating potential is still “elusive” in the near-term, the analyst tells investors in a research note. JPMorgan has moved to a less negative stance on the sector on improving organic growth.
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