Goldman Sachs Maintains a 'Sell' on Penske Automotive Group (PAG); Adjusting Estimates & PT After Q2 Report

August 1, 2012 7:01 AM EDT Send to a Friend
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Price: $40.34 +0.72%

Rating Summary:
    7 Buy, 4 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 37 | Down: 17 | New: 30
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Goldman Sachs maintains a 'Sell' on Penske Automotive Group (NYSE: PAG) price target of $28.00 (from $27.00).

Analyst, Patrick Archambault, said, "SSS on the new side came in ahead of our forecast as PAG’s performance in the international markets held in much stronger than our expectations. However, used sales were not able to keep the pace with new sales, which benefited from stabilizing inventory at Toyota (NYSE: TM), Lexus, and Honda (NYSE: HMC)."

"We adjust our 2012/2013/2014 EPS estimates to $2.18/$2.37/$2.51 from $2.10/$2.30/ $2.45 previously."

For an analyst ratings summary and ratings history on Penske Automotive Group click here. For more ratings news on Penske Automotive Group click here.

Shares of Penske Automotive Group closed at $23.90 yesterday.


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Analyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change

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