Calyon Securities Upgrades AutoNation (AN) to Buy
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Calyon Securities upgrades AutoNation (NYSE: AN) from Add to Buy. Price target $15.
AutoNation, Inc., through its subsidiaries, operates as an automotive retailer in the United States.
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Autonation
JimAnders on Jul 25, 2008 09:26 AMI agree - it is a buy - recognizing that is company has built a foundation which is semi-recession resistant - doing ok with good cash flow in markets hit hard by housing, credit and now gas. They have deployed excess cash flow wisely over the last several years - and even though they are producing good cash flow now - when the housing, credit and auto technology (better or alternative energy use vehicles) correct - the upswing will add the the value of the investment in this company. I have a significant position in this stock in a privately managed fund. So my comments are based on a long term interest and view of this company. I am not a speculator or short term investor - I tend to buy and hold - and have no plans to sell good companies. I also use long term option LEAPS to 2010 in companies like AN. Anyway - I agree that this is a buy at todays market price. I think the target and intrinsic value is $20 based on DCF.