UPDATE: Goldman Sachs Raises Price Target on Penske Automotive Group to $23

According to Goldman Sachs, Penske Automotive Group

price target is raised to $23. Goldman Sachs said that PAG announced today that it has acquired the Isaac Agnew Group of dealerships located in Belfast in Northern Ireland and surrounding towns of Portadown and Newtonabbey. “Our 6-month price target goes to $23 from $22 previously based on our new 2012 EBITDA and EPS estimates.” Penske Automotive Group closed yesterday at $20.19.