Asbury Automotive price target lowered to $255 from $260 at JPMorgan

JPMorgan lowered the firm’s price target on Asbury Automotive (ABG) to $255 from $260 and keeps a Neutral rating on the shares as part of a Q4 earnings preview for the franchise auto dealerships. Franchise dealers on average have had a strong start to 2025, sustaining outperformance since the U.S. presidential elections, the analyst tells investors in a research note. The firm says immediate fundamentals have been supportive with sharp recovery in industry volumes, while inventory levels and pricing have remained stable. As such, it increased Q4 earnings estimates for the group to reflect the strong pickup in new and used sales, as well as slower than expected inventory build.