Market Overview

UPDATE: Stifel Nicolaus Raises PT to $80 on Group 1 Automotive on Car Sales Outlook

Related GPI
UPDATE: Morgan Stanley Reiterates On Group 1 Automotive, Inc. On Challenges Ahead
Top 4 NYSE Stocks In The Auto Dealerships Industry With The Highest Dividend Yield

Stifel Nicolaus reiterated its Buy rating on Group 1 Automotive (NYSE: GPI) and increased its price target from $62 to $80.

Stifel Nicolaus noted, "[W]e believe the recent U.S. vehicle sales ramp has generally been driven by credit availability and improving housing sentiment, but not vehicle breakdowns. Vehicles remain substantially older than average, meaning we could potentially see more sensitivity to cold weather snaps this winter. Japanese brands are outperforming, and GPI has outsized exposure to the J-3 relative to most peers. Some of this is due to easier comparisons (lapping supply shortages), but as fuel inflation returns to the forefront of the U.S. consumers' mindset, we think consumers will continue to favor Japanese brands relative to domestic and European peers (though domestics rapidly improving)."

Group 1 Automotive closed at $63.22 on Friday.

Latest Ratings for GPI

DateFirmActionFromTo
Jul 2014KeyBancMaintainsBuy
May 2014KeyBancMaintainsBuy
Oct 2013Morgan StanleyDowngradesOverweightUnderweight

View More Analyst Ratings for GPI
View the Latest Analyst Ratings

Posted-In: Stifel NicolausAnalyst Color Price Target Intraday Update Analyst Ratings

 

Related Articles (GPI)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters