Soleil Securities Maintains a 'Hold' on Group 1 Automotive (GPI); Raises Price Target

June 16, 2009 8:23 AM EDT

Soleil Securities maintains a 'Hold' on Group 1 Automotive (NYSE: GPI), raises price target from $15 to $26.

Soleil analyst says, "We believe 10-15 points of U.S. light vehicle market share will be up for grabs owing to the restructuring actions underway in Detroit. In our view, the leading Japanese-based manufacturers as well as Ford (NYSE: F) are best positioned to capitalize. The Big Three from Japan account for 62% of new retail units at GPI, and F accounts for another 10% - the highest level of the five companies in our Dealer Comp Group. No change '09E$1.15 but raising '10E to $1.65 from $1.45 due to improving industry volume levels, cost improvement efforts and higher market share of GPI's key brands."

To see more analyst ratings on GPI Click Here.

Group 1 Automotive, Inc. is an operator in automotive retail industry. As of December 31, 2008, the Company owned and operated 127 franchises at 97 dealership locations and 23 collision service centers in the United States and six franchises at three dealerships and two collision centers in the United Kingdom.

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