Lithia & Driveway initiated with an Overweight at Stephens

Stephens initiated coverage of Lithia & Driveway with an Overweight rating and $360 price target. Lithia is the most ambitious, and therefore the most potentially volatile, of the public six dealerships, the analyst tells investors in a research note. The firm says the company is currently rolling out a captive finance business, which already accounts for over 10% of its total U.S. based vehicle sales.