Stephens analyst Daniel Imbro has an Equal Weight rating and $185 price target on Penske Automotive and notes that the firm’s estimates and target are under review after the company reported an EPS beat relative to its estimate, primarily driven by lower SG&A margin, higher revenue and a lower tax rate. Operationally, Penske “continues to execute well” and the firm was “impressed with the cost control,” the analyst added in a “first look” reaction note.
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