Wells Fargo raised the firm’s price target on Lithia & Driveway to $343 from $299 and keeps an Equal Weight rating on the shares. The firm notes Lithia & Driveway traded up 11% after a Q3 beat. New GPUs declined less than expected quarter-over-quarter, Wells says, adding that Lithia & Driveway also exceeded its original cost savings target and has reached $200M annualized savings with an additional $100M to come.
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