BofA raised the firm’s price target on Lithia & Driveway to $385 from $380 and keeps a Buy rating on the shares. The firm has trimmed its new vehicle same-store sales estimates for the auto dealers “slightly” given softer volumes in Q1 relative to BofA’s estimates, the analyst tells investors in a automotive industry Q1 preview note. However, the firm expects dealer performance to remain resilient, the analyst added.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LAD:
- Morgan Stanley upgrades U.S. auto industry view to Attractive from In-Line
- Lithia & Driveway price target raised to $230 from $220 at Morgan Stanley
- 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