Group 1 Automotive Inc. (GPI) PT Raised to $495 at Citi

Citi analyst Michael Ward raised the price target on Group 1 Automotive Inc. (NYSE: GPI) to $495.00 (from $463.00) while maintaining a Buy rating.

The analyst comments "Auto dealers are less vulnerable to higher tariffs relative to the rest of the auto sector or other retailers. GPI outperformed the S&P 500 in each of the last four years and is up 5.5% YTD. Earnings performance for the Dealer Group was better than expected in 1Q and reinforced that the impact from higher tariffs was manageable. We expect another strong quarter in 2Q for GPI, benefitting from higher demand in the US, lower floorplan interest, gains in Parts & Services, cost improvement in the UK, a lower share count and an easy comp due to the CDK shutdown last year. We believe the positive momentum will allow valuation multiples to move towards normalized levels. We rate GPI Buy and increased our price target to $495 up from $463 per share."

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