JPMorgan analyst Rajat Gupta raised the firm’s price target on Lithia & Driveway to $315 from $280 and keeps an Overweight rating on the shares. The analyst says Q2 results for the franchise auto dealerships were better than feared with the sector seemingly tracking to a solid beat before the CDK outage. The firm believes the positives for the group outweigh the challenges into potential interest rate cuts.
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