AutoNation price target raised to $160 from $155 at JPMorgan

JPMorgan analyst Rajat Gupta raised the firm’s price target on AutoNation to $160 from $155 and keeps a Neutral rating on the shares. The analyst says Q2 results for the franchise auto dealerships were better than feared with the sector seemingly tracking to a solid beat before the CDK outage. The firm believes the positives for the group outweigh the challenges into potential interest rate cuts.