UBS Upgrades AutoNation Inc. (AN) to Neutral; Valuation Back In-Line with Peer Group
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Price: $199.49 -0.3%
Rating Summary:
17 Buy, 10 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
17 Buy, 10 Hold, 4 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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UBS upgraded AutoNation Inc. (NYSE: AN) from Sell to Neutral with a price target raised from $32 to $34.
Analyst, Colin Langan, said, "Our upgrade largely reflects valuation as the shares are now close to our revised $34 price target. AutoNation has underperformed the sector, down 10% YTD while the median auto company is up about 15%. As a result, AutoNation’s PE multiple is now trading at its historical premium of 15-20% to its peers (vs. a 45-50% premium at the beginning of the year). Consequently, we believe that the shares are now fairly valued and therefore are raising our rating."
Raises FY12 EPS estimate from $2.15 to $2.25 and FY13 from $2.35 to $2.40.
For an analyst ratings summary and ratings history on AutoNation Inc. click here. For more ratings news on AutoNation Inc. click here.
Shares of AutoNation Inc. closed at $33.23 yesterday.
Analyst, Colin Langan, said, "Our upgrade largely reflects valuation as the shares are now close to our revised $34 price target. AutoNation has underperformed the sector, down 10% YTD while the median auto company is up about 15%. As a result, AutoNation’s PE multiple is now trading at its historical premium of 15-20% to its peers (vs. a 45-50% premium at the beginning of the year). Consequently, we believe that the shares are now fairly valued and therefore are raising our rating."
Raises FY12 EPS estimate from $2.15 to $2.25 and FY13 from $2.35 to $2.40.
For an analyst ratings summary and ratings history on AutoNation Inc. click here. For more ratings news on AutoNation Inc. click here.
Shares of AutoNation Inc. closed at $33.23 yesterday.
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