Benchmark raised the firm’s price target on Lithia & Driveway to $375 from $300 and keeps a Buy rating on the shares. The firm, which has increased its earnings assumptions for 2023 and 2024, believes valuation multiples for the auto dealer group will return to historical levels as variable gross margins stabilize at higher levels than in the past.
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Read More on LAD:
- Lithia & Driveway price target raised to $385 from $365 at Stephens
- Lithia & Driveway price target raised to $340 from $245 at Citi
- Lithia & Driveway price target raised to $348 from $305 at Goldman Sachs
- Lithia & Driveway reports Q2 EPS $10.91, consensus $9.26
- Lithia & Driveway (LAD) Reports 12% Revenue Increase and Diluted EPS of $10.78