Citi lowered the firm’s price target on Lithia & Driveway to $280 from $320 and keeps a Neutral rating on the shares. Lithia reported mixed results whereby revenue came in 3% above consensus while adjusted EBITDA was 9% below consensus, the analyst tells investors in a research note. Th firm says new car supply is normalizing.
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Read More on LAD:
- Lithia & Driveway reports Q1 EPS $6.11, consensus $7.89
- Lithia & Driveway (LAD) Reports Record First Quarter Revenue of $8.6 billion, 23% Increase
- Lithia & Driveway management to meet with Stephens
- Lithia to cut hundreds of positions, shutter CarStore, FT reports
- LAD Upcoming Earnings Report: What to Expect?
