Benchmark sees Lithia & Driveway well-positioned for growth, starts at Buy

As previously reported, Benchmark analyst Michael Albanese initiated coverage of Lithia & Driveway with a Buy rating and $400 price target L&D has executed the most aggressive and successful M&A strategy in a still highly fragmented industry that supports consolidation and where large dealerships enjoy favorable competitive dynamics, the analyst tells investors. The firm believes L&D is well-positioned for growth supported by a resilient auto market, used vehicle outperformance, parts and services growth, operational efficiency, and “a robust online platform,” the analyst added.