Wells Fargo lowered the firm’s price target on Lithia & Driveway to $275 from $319 as new GPU declines will likely impede EPS growth, while keeping an Equal Weight rating on the shares. The firm notes industry pricing continues to hold in Q3, though it expects modest quarter-over-quarter dealer new GPU declines.
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Read More on LAD:
- Lithia & Driveway management to meet with Craig-Hallum
- Lithia & Driveway improves terms to 35.4p per Pendragon share
- Lithia & Driveway Improves Terms to 35.4p Per Pendragon Share with Significant Future Upside
- Pendragon confirms receipt of revised proposal from Penske, Hedin
- Pendragon Shares Skyrocket on the Sale of UK Dealership Business to Lithia
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