Stephens raised the firm’s price target on Lithia & Driveway (LAD) to $420 from $405 and keeps an Overweight rating on the shares. The public six auto retailers kick off earnings season with Group 1 (GPI) on Wednesday, January 29, notes the analyst, who also points out that U.S. new unit retail sales were up about 11.6% in Q4, making it “the best quarter of 2024 growth wise.” There is a “reasonable case to be made that the U.S. new vehicle SAAR will be nicely higher in 2025,” the analyst added in a preview for the car dealer group.
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