Asbury Automotive price target raised to $260 from $240 at Craig-Hallum

Craig-Hallum raised the firm’s price target on Asbury Automotive (ABG) to $260 from $240 and keeps a Hold rating on the shares. The firm notes Asbury Automotive reported solid Q3 results despite OEM stop sales, multiple hurricanes, continued normalization of new vehicle GPUs, and OEM-specific challenges. Importantly, these headwinds are starting to turn to tailwinds, Craig-Hallum adds.