UPDATE: Buckingham Research Upgrades Group 1 Automotive Inc. (GPI) to Buy

(updated to add analyst comment)

Buckingham Research analyst Glenn Chin upgraded Group 1 Automotive Inc. (NYSE: GPI) from Neutral to Buy with a price target of $70.00.

The analyst comments "Overall, this was a positive result in light of headwinds faced overseas, which we believe will begin to alleviate in late 4Q18. Also encouraging, GPI contends that it is beginning to see incremental improvement in the oil patch, where it has concentrated exposure, which aligns with what we have been calling for and is in-line with most regional economic indicators we track. Although the effect may be masked due to the hurricane comp in 4Q18, we believe it will ultimately serve as a significant tailwind for the company."

an analyst ratings summary and ratings history on Group 1 Automotive Inc. click here. For more ratings news on Group 1 Automotive Inc. click here.

Shares of Group 1 Automotive Inc. closed at $57.55 yesterday.

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