Morgan Stanley analyst Adam Jonas upgraded Group 1 Automotive to Equal Weight from Underweight with a price target of $255, up from $200 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”.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GPI:
- Group 1 Automotive Acquires Two High Volume Lexus Dealerships in Southern California
- Group 1 Automotive acquires two Lexus dealerships in California
- Group 1 Automotive Secures Credit, Acquires RRR, Sets Dividend
- Group 1 Automotive Acquires RRR Automotive Group
- Group 1 Automotive increases dividend 4% to $1.88