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UPDATE: Sterne Agee Downgrades Group 1 Automotive to Neutral

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Sterne Agee has published a report on Group 1 Automotive (NYSE: GPI) and has downgraded the company from Buy to Neutral.

In the report, Sterne Agee wrote, "We are downgrading our rating for GPI to Neutral from Buy and removing our price target. While we remain bullish on GPI and the Dealer Group on a long-term basis, we believe current market prices are fully discounting the positive near-term trends. In addition, industry sales comparisons become tougher for the remainder of 2012 and the prospects of a fiscal cliff in early 2013 present additional risk which could present a better entry point over the next few months."

Sterne Agee removed its price target on Group 1 Automotive, which is currently trading down 2.87 percent from Tuesday's $64.38 closing price.

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: Sterne AgeeAnalyst Color Downgrades Analyst Ratings

 

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