Morgan Stanley analyst Adam Jonas raised the firm’s price target on Lithia & Driveway to $230 from $220 and keeps an Underweight rating on the shares as part of a broader research note on Auto Dealers. The group’s Q4 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 adoption and stronger Japanese share”, with a large Japanese OEM exposure that positions dealers favorably for a return in supply.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on LAD:
- Lithia & Driveway Expands in North Central Region with the Purchase of Carousel Motor Group
- Lithia & Driveway acquires Carousel Motor Group
- Lithia & Driveway management to meet virtually with Seaport Research
- Lithia & Driveway price target lowered to $285 from $290 at JPMorgan
- Lithia & Driveway price target raised to $334 from $300 at Goldman Sachs