JPMorgan analyst Rajat Gupta removed Lithia & Driveway from the firm’s Analyst Focus List while keeping an Overweight rating on the shares with a $275 price target. The company’s recent execution on sales metrics has been disappointing and not deserving of the stock’s historical relative premium, the analyst tells investors in a research note. However, the firm sees the story as "likely re-inflecting" as the view on 2024 and related benefits from Driveway become more visible.
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Published first on TheFly
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