JPMorgan raised the firm’s price target on Lithia & Driveway to $395 from $350 and keeps an Overweight rating on the shares. The analyst says the relative risk/rewards remain favorable for the U.S. franchise auto dealerships heading into the Q3 results even though the revision cycle will likely take a “breather.” The share pullbacks provide some compelling entry points, said the firm, which established 2024 year-end price targets.
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Read More on LAD:
- Lithia & Driveway price target lowered to $275 from $319 at Wells Fargo
- 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
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