UPDATE: Goldman Sachs Upgrades AutoNation Inc. (AN) to Neutral
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(Updated - October 6, 2016 8:52 AM EDT)
Goldman Sachs upgraded AutoNation Inc. (NYSE: AN) from Sell to Neutral with a price target of $49.00 (from $52.00). Analyst David Tamberrino thinks shares have bottomed.
"We upgrade AN as valuation appears to have bottomed out with shares trading in line with our updated price target – effectively at trough multiples, and given a more defensible business model in a downturn," said the analyst.
Shares of AutoNation Inc. closed at $49.76 yesterday.
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