Market Overview

UPDATE: Deutsche Bank Upgrades AutoNation to Hold on 1Q13 EPS

Share:
Related AN
A Peek Into The Markets: U.S. Stock Futures Edge Lower; All Eyes On Apple Earnings
Earnings Scheduled For November 2, 2017

In a report published Friday, Deutsche Bank analyst Rod Lache upgraded the rating on AutoNation (NYSE: AN) from Sell to Hold, and slightly raised the price target from $38.00 to $39.00.

In the report, Lache noted, “AutoNation reported 1Q13 EPS of $0.68, outperforming consensus / DBe of $0.64 / $0.62. Although a number of (likely) non-recurring items helped the quarter, we noted some significant bright spots in the Used and Parts / Service business that we believe have positive future implications and indicate that internal initiatives are bearing fruit. Given these positive indications, as well as an improved valuation (better than expected Service earnings, F&I per-unit, and SG&A leverage has led to a substantial reduction in AN's multiple; currently 13x vs. 15x when we downgraded the stock on 6/23/12), we are adjusting our recommendation to Hold from Sell.”

AutoNation closed on Thursday at $43.30.

Latest Ratings for AN

DateFirmActionFromTo
Nov 2017BuckinghamMaintainsNeutral
Nov 2017JefferiesMaintainsHold
Oct 2017BerenbergInitiates Coverage OnBuy

View More Analyst Ratings for AN
View the Latest Analyst Ratings

Posted-In: Deutsche BankAnalyst Color Upgrades Analyst Ratings

 

Related Articles (AN)

View Comments and Join the Discussion!

Partner Center